Brown-Forman, the Louisville-based maker of spirits including Jack Daniels, Old Forester and Woodford Reserve, plans to cut 12% of its workforce.

Louisville-based Brown-Forman Corporation, whose products include Woodford Reserve Bourbon and Jack Daniels Tennessee Whiskey, announced a series of changes on Tuesday, which includes the layoff of

Brown-Forman's recent announcement of layoffs at its cooperage facility marks another major restructuring move for a prominent Louisville-based company, reflecting ongoing challenges faced by businesses in a shifting economic landscape.

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

Brown-Forman named new executives and said it will cut about 12% of its global workforce, or roughly 648 jobs, as it undergoes a restructuring aimed to position the company for growth amid a choppy global spirits market.

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Brown-Forman, the parent company of Jack Daniel's whiskey and Woodford Reserve bourbon, is laying off approximately 12% of its 5,400 employees.