As a part of a rebuilding strategy being implemented by the CEO of the American motorcycle manufacturing company, Harley-Davidson is intending to cut 500 employments this year.
Due to the overhaul, Chief Financial Officer John Olin will leave the organization taking effect from now. Darrell Thomas, treasurer, will take charge as the interim chief financial officer.
Harley-Davidson's deals have been declining for as long as five years in the United States, its biggest market, as its baby-boomer customer base ages. The financial agony brought about by the coronavirus pandemic has additionally marked retail requests.
In the light of weak deals, the Milwaukee-based organization has cut creation, prompting 140 employment cuts a month ago at its processing industry in Pennsylvania and Wisconsin.
Zeitz who is hailed for taking over Puma’s brand from near bankruptcy is now restructuring a strategy naming ‘rewire’, which aims at making Harley a leaner and increasingly agile association. It tries to reset product offerings, around the organization's center qualities, and organize profitable markets.
The measures will lay the foundation for a five-year strategic plan to increase the sales while the overhaul is expected to be completed by the end of this year.
The total elimination of 700 positions is restructured resulting in a $50 million restructuring charge in 2020.
It is indeed captivating that, Harley-Davidson was one of two major American motorcycle companies to survive the Great Depression.