Industry sales tracker IWSR reported that sales of U.S. whiskey, including bourbon, Tennessee and rye, fell 1.2% in 2023, the first drop in more than 20 years. Sales have continued to fall, down 4% in the first nine months of 2024.

On Tuesday, spirits conglomerate Brown-Forman informed its investors of what it described as "a series of strategic initiatives for growth," including laying off about 12% the company's global workforce,