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.
The so-called Cooperage business employs 210 hourly and salaried employees, according to the company. Brown-Forman will now purchase its barrels from an outside supplier, the company said.
In all, the company said it is cutting 648 employees after the teetotaler trend caused the first drop in whisky sales – down 1.2% in 2023 – since 2002, according to a Wall Street Journal report.
“Todays announcement will ensure we have the structure and teams in place.. while also making investments that we believe will facilitate growth for generations to come,” Brown Forman CEO Lawson Whiting said in a statement.