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.

Spirits giant Brown-Forman Corp. says it’s reducing its global workforce by about 12% and closing its barrel-making plant in Louisville.

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

Forman said on Tuesday it will lay off about 12% of its global workforce of 5,400 employees, as the Jack Daniel's maker looks to reduce costs amid weak alcohol demand. The company has struggled with high input costs,

The moves come as American whiskey producers face stiff challenges from changing consumer trends and renewed tariff threats.