Harley-Davidson to cut 700 jobs across company
Harley-Davidson Inc. will eliminate 700 jobs globally, the company announced Thursday, in an attempt to rightsize a company that's fallen on hard times over the past several years.
Harley's announcement came weeks after 90 jobs were eliminated at its plant in Springettsbury Township. A spokesperson said those local cuts were largely due to the COVID-19 pandemic.
The company-wide restructuring, dubbed "The Rewire," is expected to result in Harley shedding 500 jobs by the end of 2020, said new Harley CEO Jochen Zeitz in a media release.
"We’ve taken a hard look at our entire set up, our spending, and how work is getting done, to align our operating model, structure and processes," Zeitz said. "We are building a strong foundation to drive a high-performance organization in the future.”
The overhaul will cost Harley $42 million in the second fiscal quarter, Zeitz said.
Few other details were immediately available. But specifics about the plan will be laid out later this month when Harley issues its financial report to investors, the release states.
Harley's sales have dropped for 13 consecutive quarters. They were down 18% globally in the first quarter of 2020 compared with the same period last year.