Spirits giant Brown-Forman Corp. says it’s reducing its global workforce by about 12% and closing its barrel-making plant in Louisville.

Brown-Forman, the parent company behind major American whiskey brands Jack Daniel's and Woodford Reserve, announced that it was cutting 12 percent of its global workforce and selling its Louisville cooperage.

Brown-Forman said on Tuesday it will lay off about 12% of its global workforce of 5,400 employees, as the Jack Daniel's maker looks to reduce costs amid weak alcohol demand.