The liquor business is not, apparently, entirely recession-proof. Brown-Forman, the distiller of Jack Daniel's and Southern Comfort whiskeys, said today it would cut 250 jobs, mostly in the U.S. and Mexico, and offer early retirement to certain employees. The company is also slashing merit pay increases and shaving spending on travel and meetings in a bid to save as much as $25 million fiscal year 2010.
The company said last month its sales dipped 11 percent in the third quarter, thanks to the global economic slowdown.
The Louisville Courier-Journal is reporting that 57 workers in Lousville will be informed of their layoffs this week, and 51 will be taking early retirement. Brown-Forman employs 4,100 people worldwide.