Jack Daniel's maker to slash 12% of its workforce as consumers' alcohol consumption dries up
1. Brown-Forman is cutting 12% of its workforce due to declining alcohol consumption. 2. Whisky sales dropped 1.2% in 2023, marking the first decline since 2002. 3. The company’s restructuring aims to save $70-$80 million annually. 4. Brown-Forman plans to sell its barrel-making operation for $30 million. 5. US health warnings about alcohol risks further impact consumer behavior.