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| Title: UPDATE 1-Brown-Forman says cutting jobs, costs |
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* Most of the job cuts to be in Mexico and U.S. LOS ANGELES, April 20 (Reuters) - Brown-Forman Corp (), the U.S. maker of Jack Daniel's whiskey and Southern Comfort, said it plans to cut 250 employees, or about 6 percent of its global work force of 4,100. The Louisville, Kentucky-based company said on Monday the "great majority" of the job cuts will be in Mexico and the United States, with fewer positions eliminated in Europe and the Asia Pacific region. The company said it also plans to offer early retirement to certain eligible U.S. employees, eliminating merit increases for all employees and cutting back on discretionary spending, including travel and meetings. The company also has hired investment bankers to look at a possible merger with rival Bacardi, Britain's Sunday Telegraph reported. The newspaper said Brown-Forman had hired Lazard () to advise it on options ranging from selling individual brands to a merger with Bacardi [BACLTD.UL]. Brown-Forman and Bacardi could not immediately be reached for comment on the report. A spokesman for Lazard in London was not immediately available. (Reporting by Lisa Baertlein; Editing by Tim Dobbyn) Full article |
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| UPDATE 1-Brown-Forman says cutting jobs, costs |
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