Brown-Forman, the parent company of Jack Daniel's whiskey and Woodford Reserve bourbon, is laying off approximately 12% of its 5,400 employees.
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00:00With apologies to Shaboosie, everybody apparently not at the bar getting tipsy,
00:06Brown Forman, the parent company of Jack Daniels Whiskey and Woodford Reserve Bourbon,
00:11is laying off approximately 12 percent of its 5,400 employees amid a downturn in spirit sales.
00:19Americans stung by inflation have significantly cut back on spending on pricey liquors.
00:26Brown Forman said the job cuts, which amount to nearly 700 people,
00:29will, quote, enhance operational efficiency and agility. The announcement comes a few weeks after
00:35the U.S. Surgeon General issued a warning that alcohol consumption can increase the risk of
00:41cancer and called for an updated health warning label on alcoholic beverages.