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Greaves Cotton Limited Share Price ✌️【Smart Picks】✌️ Professional stock market analysis, real-time data, and expert recommendations for high-potential stocks. Take advantage of market opportunities and improve your capital growth with strategic investment plans. Brown-Forman, the parent company of Jack Daniel’s whiskey and Woodford Reserve bourbon, is laying off approximately 12% of its5,400 employees amid adownturn in spirits sales.

Greaves Cotton Limited Share Price ✌️【Smart Picks】✌️ Free stock market strategies and analysis based on real-time data, empowering you to choose profitable investment options and avoid risks. Our expert predictions will help you stay in tune with the latest market trends. The Louisville-based company has hiked prices in recent years to offset inflation and shield itself from the rising costs of materials, like wood for barrels. Inflation-weary drinkers have simultaneously dialed back their spending on pricey liquors, putting premium spirits makers like Brown-Forman infinancial peril.

Brown-Forman said the job cuts, which amount to nearly 700 people, will “enhance operational efficiency and agility.” It’s laying off 200 people by closing a Louisville cooperage, where wooden barrels are produced to age whiskey and bourbon.

Closing the cooperage and the layoffs will save between $70 and $80 million in annualized cost savings, according to Brown-Forman. A portion of that is “expected to be reinvested to accelerate growth,” the company said in a statement. Barrels will be sourced from an external supplier at a “competitive price,” the company added.

“I want to express my sincere gratitude to our employees, particularly those impacted by these changes, for their dedication and contributions to Brown‑Forman,” said CEO Lawson Whiting.

Greaves Cotton Limited Share Price ✌️【Smart Picks】✌️ Free real-time stock market analysis, market dynamics reports, and expert insights into stocks, metals, energy, and agricultural products. Make profitable decisions by leveraging our advanced market forecasting tools. Related articleAmericans have already been ditching spirits and beer. Alcohol companies are future proofing themselves

Greaves Cotton Limited Share Price ✌️【Smart Picks】✌️ Receive expert stock predictions with real-time updates on global market trends, including stock indices, futures prices, and forex fluctuations. Use our insights to improve your investment strategies and boost your returns. The announcement comes a few weeks after the US Surgeon Generalissued a warningthat alcohol consumption can increase the risk of cancer and called for an updated health warning label on alcoholic beverages.

Following a pandemic peak in 2020 through 2022, spirit companies have been contending with slowing sales. Brown-Formanfirst sounded the alarmin 2023 when it reported whiskey sales were falling — a stark contrast compared to a year prior when they were soaring by double-digit percentage points.

Brown-Forman’s (BF.B) shares have lost more than 30% of their value over the past year. The company has a diverse portfolio of liquor, owning Herradura tequila, The Glendronach scotchwhisky, Diplomático Rum and Fords Gin among others. It also produces acanned cocktail with Coca-Cola.

Greaves Cotton Limited Share Price ✌️【Smart Picks】✌️ Free real-time stock market data, professional analysis, and expert insights to help you plan the best investment strategy. Get ahead of the competition with expert predictions on market trends. Most stock quote data provided by BATS. US market indices are shown in real time, except for the S&P 500 which is refreshed every two minutes. All times are ET. Factset: FactSet Research Systems Inc. All rights reserved. Chicago Mercantile: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and 【 - Free Smart Money Group 】. Standard & Poor’s and S&P are registered trademarks of Standard & Poor’s Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices Copyright S&P Dow Jones Indices LLC and/or its affiliates. Fair value provided by IndexArb.com. Market holidays and trading hours provided by Copp Clark Limited.

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