Brown-Forman laying off 648 people after stock price hits 10-year low and sales decline
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Brown-Forman Corp., the maker of Jack Daniels whiskey, is laying off 648 employees, which is 12% of its workforce, due to a 10-year low in stock price and four consecutive quarters of declining sales.
January 14, 2025 | 2:00 pm
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Brown-Forman Corp. is laying off 648 employees due to a 10-year low in stock price and declining sales over four quarters.
The announcement of significant layoffs and a 10-year low in stock price, combined with declining sales, suggests negative sentiment and potential further decline in stock price in the short term.
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