The Louisville, Ky., maker of Jack Daniel's Tennessee Whiskey said Tuesday it expects to incur between $60 million and $70 million in charges related to the restructuring, largely stemming from severances, as well as costs related to the closure of Brown-Forman Cooperage.
Cooperage, the company's barrel-making arm, will wind down operations by April 25. Its closure will account for about one-third of the company's total job cuts, while the sale of its assets will result in more than $30 million in proceeds for the company.
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