The motorcycle maker Harley-Davidson, Inc. said in a statement Friday that it will cut 1,100 jobs over the next 24 months in order to battle teh global slowdown in demand for its motorcycles.
70% of the announced layoffs are to be expected this year in the Milwaukee-area facilities. Other measures the company anticipates taking are a reduction in production and a consolidation of different operations in their manufacturing plants.
Harley-Davidson motorcycle revenue was $4.28 billion, down 3.8 percent compared with last year’s $4.45 billion. While profits fell 58 percent in the fourth quarter. Total retail sales in the U.S. dropped 19.6% in the fourth quarter while global sales fell 13.1%.
Image by mauricedb under Creative Commons.
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