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Harley-Davidson books $75 million in fresh restructuring costs, exits India

The announcement comes two months after Harley unveiled a strategy to shift focus back to more profitable motorcycles and core markets such as the United States

Topics
Harley Davidson | Motorcycle makers | United States

Reuters 

Harley-Davidson's new electric motorcycle, LiveWire, is shown in this handout photo released by Harley-Davidson. Photo: Reuters
Harley said earlier in the year that it planned to reduce its product portfolio and exit lower volume markets, without specifying which ones.

U.S. motorcycle maker Harley-Davidson said on Thursday it expects to report $75 million in additional restructuring costs for 2020 related to actions including discontinuing its sales and manufacturing operations in India.

The announcement comes two months after Harley unveiled a strategy to shift focus back to more profitable motorcycles and core markets such as the

Harley said earlier in the year that it planned to reduce its product portfolio and exit lower volume markets, without specifying which ones.

The company said it now expects total restructuring costs of about $169 million in 2020, and this will also include a workforce reduction of about 70 employees in India, a market where its annual sales volumes account for less than 5% of the company's total. 

 

(Reporting by Ankit Ajmera in Bengaluru; Editing by Maju Samuel)

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First Published: Thu, September 24 2020. 16:58 IST
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