Brown-Forman, the parent company behind major American whiskey brands Jack Daniel's and Woodford Reserve, announced that it was cutting 12 percent of its global workforce and selling its Louisville cooperage.

Spirits giant Brown-Forman Corp. says it’s reducing its global workforce by about 12% and closing its barrel-making plant in Louisville.

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.

Spirits giant Brown-Forman Corp. said Tuesday it's reducing its global workforce by about 12% and closing its hometown barrel-making plant in Louisville. The cost-cutting moves come as

Jack Daniel’s owner Brown-Forman is reducing its workforce by 12% as it battles a slow spirits market and foreboding trends.

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