Related: Popular vodka brand sold after spirits sales slump However, everything that goes up has to come down at some point, and the spirits and wine markets are experiencing this harsh fall firsthand.

Forman, which is expected to generate up to $80 million in annual savings, comes as inflation and changing consumer tastes cut into spirits sales.

Brown-Forman, the Kentucky spirits company that makes Jack Daniel’s Tennessee Whiskey and Woodford Reserve Bourbon, announced it will lay off 12% of its workforce and close its Louisville cooperage.

Brown-Forman, the parent company behind major American whiskey brands Jack Daniel's and Woodford Reserve, announced that it was cutting 12 percent of its global workforce and selling its Louisville cooperage.

The workforce layoffs are expected to affect around 650 employees, or 12% of Brown-Forman’s 5,400 employees worldwide. The company also plans to close its Louisville-based barrel-making operation, Brown‑Forman Cooperage, by April 25. That will cut jobs for about 210 hourly and salaried employees and is part of the overall layoffs.

By McKenna Horsley Kentucky Lantern The Brown-Forman Corp., a giant spirts company based in Kentucky, announced Tuesday it plans to reduce its global workforce by 12% as part of a “a series of strategic initiatives to position the company for continued growth in the dynamic global spirits market.

The company says restructuring efforts include cooperage closure, workforce reduction and a shift to external barrel sourcing

Jack Daniel’s maker Brown-Forman is slashing 12% of its workforce as more consumers cut back on their alcohol consumption, the company said Tuesday. Louisville, Ky.-based Brown-Forman – a 155 year-old company which also makes Woodford Reserve, Old Forester and other spirits – is closing its barrel making operation by April 25.

Spirits giant Brown-Forman Corp. said Tuesday it's reducing its global workforce by about 12% and closing its hometown barrel-making plant in Louisville. The cost-cutting moves come as

LOUISVILLE, Ky. — Louisville-based Brown-Forman Corporation announced Tuesday it will lay off more than 600 workers and close a local facility in a major restructuring of the company.

Louisville-based spirits purveyor Brown-Forman says it’s closing its Louisville cooperage amid a 12% reduction in its workforce.

Spirits giant Brown-Forman Corp. says it’s reducing its global workforce by about 12% and closing its barrel-making plant in Louisville ... Kentucky and Tennessee, where Jack Daniel's is crafted ...