The Wall Street Journal reports…

Brown-Forman Corp. (BFB) said it would cut 250 jobs, or about 6% of its global work force, and make other cost cuts to adjust to slowing demand.

The liquor and wine producer also is offering early retirement to some U.S. employees, eliminating merit increases for all employees and reducing spending on travel and meetings.

Brown-Forman is expected to save $15 million to $25 million in fiscal 2010, which begins May 1.

The distiller of Jack Daniel’s and Southern Comfort will take a fiscal fourth-quarter charge of 5 cents to 7 cents a share for severance and other costs related to the layoffs and early retirement program. The charge was anticipated in the company’s fiscal-year earnings guidance, which lowered last month to the range of $2.70 to $2.90 a share.

Most of the job cuts will be in Mexico and the U.S., with fewer positions eliminated in Europe and the Asia-Pacific region. All affected employees will be offered severance pay, career counseling assistance and other benefits.

“I believe these and other key decisions we have made will help Brown-Forman continue to compete effectively in this tough economy,” said Chief Executive Paul Varga.

Last month, Brown-Forman said its fiscal third-quarter net income rose 6.4% on lower costs but sales fell 11% as distributors cut orders amid the economic downturn. The company also said it is seeing increasing evidence that drinkers are switching to lower-priced beverages and drinking less at bars and restaurants.

Brown-Forman’s shares recently traded at $42.74, up 3.4%. The stock price has gained about 22% in the past month.