Harley Davidson on Tuesday decided to streamline its operation by reducing its workforce during the fourth quarter following the downfall in it’s motorcycle sales around the world.
Harley Davidson’s move will be costing them around $20 million to $25 million USD. The motorcycle manufacturer witnessed a slow growth in the industry as the main factor for weaker retail sales.
Although the company has not provided with any details regarding its reorganization plans nor have stated at what degree will the jobs be affected
Harley Davidson’s retail motorcycle sales fell 7.1% in the US during the third quarter, taking a hit on the company’s the total global retail sales. which fell 4.5%.
Matt Levatich President and Chief executive officer, Harley-Davidson Inc. said, “We continue to effectively navigate a fiercely competitive environment and an ongoing weak U.S. industry.”
Harley Davidson said, its net income was $114.1 million in the second quarter, down from $140.3 million a year ago.
