TryGOLD- Free

Jack Daniel's Maker to Slash Jobs, Incur Charges for Restructuring
The Wall Street Journal|January 15, 2025
Brown-Forman 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.
- By Connor Hart
Jack Daniel's Maker to Slash Jobs, Incur Charges for Restructuring

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.

This story is from the January 15, 2025 edition of The Wall Street Journal.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

Jack Daniel's Maker to Slash Jobs, Incur Charges for Restructuring
Gold Icon

This story is from the January 15, 2025 edition of The Wall Street Journal.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

We use cookies to provide and improve our services. By using our site, you consent to cookies. Learn more