Brown-Forman Corp., the maker of Jack Daniel’s and Southern Comfort, plans to lay off 250 of its 4,100 employees during its first quarter, which begins May 1.
The majority of the job cuts will occur in Mexico and the U.S., with fewer positions eliminated in Europe and the Asia Pacific region.
The cost-cutting move also includes offering early retirement to certain U.S. employees, eliminating merit increases companywide and cutting travel and meeting spending. These actions are projected to save Brown-Forman between $15 million and $25 million in fiscal 2010.
“While this was a very difficult decision to make, I believe it is necessary to best position Brown-Forman for both the difficult times we are confronting today and the uncertain and challenging environment that we expect ahead of us,” Brown-Forman Chief Executive Officer Paul Varga said in a release.
All employees affected by the reduction in force will be offered severance pay, career counseling assistance, and other benefits.
Brown-Forman also markets Finlandia, Canadian Mist, Fetzer, Korbel, Gentleman Jack, el Jimador, Tequila Herradura, Sonoma-Cutrer, Chambord, Tuaca, Woodford Reserve and Bonterra.
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