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Harley-Davidson says it expects to lay off about 225 salaried employees by the end of the year to cut costs amid a sluggish US motorcycle market. The cuts amount to about 5 per cent of the company's workforce.
The Milwaukee Journal Sentinel reports that about 70 contractors also will be affected. The company says it will incur up to USD 25 million in employee separation and reorganization costs as it cuts production and reduces workers. Harley-Davison has 1,024 salaried employees at its Milwaukee headquarters and 3,246 salaried employees worldwide. The company has not disclosed where the job cuts will take place. The company yesterday reported an 18.7 per cent decline in third-quarter profit on lower sales and said it would cut costs.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)