SPIRITS GIANT BROWN-FORMAN…..WHOSE FLAGSHIP BRAND IS “JACK DANIEL’S TENNESSEE WHISKEY” SAID YESTERDAY IT’S REDUCING ITS GLOBAL WORKFORCE
BY ABOUT 12-PERCENT AND CLOSING ITS HOMETOWN BARREL-MAKING PLANT IN LOUISVILLE…..
THE ACTIONS ARE PROJECTED TO PRODUCE ABOUT 70 TO 80 MILLION DOLLARS IN ANNUALIZED COST SAVINGS…..A PORTION OF WHICH IS EXPECTED TO BE
REINVESTED AS PART OF THE COMPANY’S GROWTH STRATEGY……
THE COMPANY'S FACILITY WHERE BARRELS ARE MADE TO STORE AND AGE IT SPIRITS WILL CLOSE BY APRIL 25TH…..AFFECTING ABOUT 210 HOURLY AND SALARIED
EMPLOYEES…..BARRELS BE SUPPLIED BY AN EXTERNAL SUPPLIER AND THE COMPANY EXPECTS TO RECEIVE MORE THAN 30-MILLION DOLLARS FROM SELLING THE
BARREL MAKING ASSETS…..
THE CLOSURE IS PART OF THE OVERALL 12-PERCENT REDUCTION IN THE COMPANY’S 54-HUNDRED EMPLOYEE GLOBAL WORKFORCE……
