Brown-Forman Lays Off 12% of Employees Amid Downturn in Spirits Sales
Brown-Forman, the parent company of Jack Daniel’s whiskey and Woodford Reserve bourbon, is cutting approximately 700 jobs, about 12% of its workforce, due to a decline in spirits sales. The layoffs will help the company save around $70-$80 million annually, which it plans to reinvest in growth initiatives. To offset rising costs, Brown-Forman has increased … Read more