Harley-Davidson is making a big change, according tomedia. As part of a restructuring plan announced in April, the iconic US motorcycle maker will cut 700 jobs worldwide this year in an effort to make work leaner and more efficient. Harley is known to employ about 6,000 people worldwide.
In addition, John Olin, Who has been Harley’s chief financial officer for 17 years, has left and Darrell Thomas, the company’s treasurer, will temporarily take his place.
“The restructuring is going very well, and the company is doing a lot to eliminate complexity and put Harley-Davidson on the path to victory,” Said Johnson Zeitz, Harley’s chairman, president and CEO, said in a statement. We are building a strong foundation to drive a high-performance organization in the future. “
Harley’s second-quarter earnings are expected to be announced later this month. The company will then be due to release more details about the restructuring, although the motorcycle maker has announced that the project is expected to generate about $42 million in costs, which should be reflected in this report. In addition to layoffs, the company has cut spending in other areas to meet its goal of saving about $250 million this year.
The restructuring will focus on a number of areas, including enhancing the core strengths of the brand, prioritizing the market by importance, and adjusting the launch of new products. In addition, Harley is committed to improving its parts and general merchandise business. The restructuring is an initial component of Harley’s new strategic business plan for 2021-2025. Details are likely to be announced in the fourth quarter of this year.