Forman, which is expected to generate savings up to $80 million annually, comes as inflation and changing consumer preferences cut into spirits sales.

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

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