The company said these changes should gain them around $70-$80 million in annual cost savings.
LOUISVILLE, Ky. — Louisville-based beverage company Brown-Forman announced on Tuesday the company would be undergoing massive changes, including layoffs and closing a local business.
President and Chief Executive Officer Lawson Whiting said the company is celebrating 155 years and is focused on evolving their strategy.
“Today’s announcement will ensure we have the structure and teams in place to continue on this path, while also making investments that we believe will facilitate growth for generations to come,” he said.
However, Brown-Forman is reducing their workforce by around 12% of its 5,400 employees worldwide. That would equal about 648 people.
“Brown-Forman is deeply committed to supporting departing employees with comprehensive transition agreements that include severance, outplacement services, and other benefits to help them through this career change,” the company said.
They are also shuttering their Louisville-based barrel-making …