Harley Makes Drastic Cuts

[DK Custom Products]

[h=1]HARLEY-DAVIDSON TAKES ADDITIONAL ACTIONS IN RESPONSE TO COVID-19 IMPACT[/h]April 15, 2020



MILWAUKEE (April 15, 2020) – Today, Harley-Davidson, Inc. (“Harley-Davidson”) (NYSE: HOG) announced additional actions it is taking in response to impacts of COVID-19 on its business.

“The effects of COVID-19 on economies around the world have been swift and unprecedented. It is essential for us to respond quickly, adapt and position the company to manage near-term challenges while preparing to reenergize the business for the recovery and beyond,” said Jochen Zeitz, acting president and CEO, Harley-Davidson.

In response to the near-term impacts of COVID-19, the company is taking the following actions to lower costs:

• Significantly reducing all non-essential spending
  
• Temporarily reducing salaries
  
  • CEO and the Board of Directors will forgo salary/cash compensation
    
  • 30 percent reduction for executive leadership
    
  • 10 to 20 percent reduction for most other salaried employees in the United States
    
  • No merit increases for 2020
    
• Implementing a hiring freeze
  

Outside of the United States, the company will take similar actions as based on regulations governing each of its operating locations. Salary reductions will be reassessed at the end of the second quarter as the company continues to closely monitor business conditions.

The majority of its global production employees are currently on temporary layoff. Medical benefits remain intact for all global employees.

“We understand that navigating this new reality has a real impact on our employees,” added Zeitz. “Their dedication to Harley-Davidson is never taken for granted, and we thank them for supporting one another and rallying together as we manage the profound impact of COVID-19.”

Harley-Davidson will release its first quarter 2020 financial results on Tuesday, April 28, 2020.

 

[ultrafxr]

Here is another article on H-D:

https://cleantechnica.com/2020/04/17/global-motorcycle-market-collapses-as-harley-makes-deep-cuts/

They've been hurting for quite a while and the impact of this caronavirus shutdown / slowdown is going to hurt them deeply. Sure hope they can weather the storm. Definitely even leaner times are coming for dealers. I think we'll see a lot of consolidation and store closings in the not to distant future. My local dealer has two stores here in the greater Memphis area just 17 miles apart and then the north Mississippi dealer is only 24 miles from his main store. Don't think the area can support all three stores if the economic forecasts are accurate.

 

[rhino 2]

They definitely wont cut the guy who's job it is to say ''NO'' to warranty claims....They might even give him a rase.......They already got rid of quite a few of their Research and Development Team Members...AKA The Customers..........

 

[Jack Klarich]

I bet Harley Credit Corp wont work with owners if they get behind on payments during this virus

 

[Mykneesbehurtin]

They definitely wont cut the guy who's job it is to say ''NO'' to warranty claims....They might even give him a rase.......They already got rid of quite a few of their Research and Development Team Members...AKA The Customers..........

I had a discussion with my buddy who is a service manager at a local HD shop,and he said that is a big problem with HD. They just don't do enough real world testing on the new products,he said he was bitching to his rep about all the issues and why cant they catch these issues in the over road R&D. And i quote,the rep said the customer is the over road R&D dept.When i took my Road King out to have the rear belt and trans seals replaced by their Master tech( at his house while the shop is shut down)even he bitched about how Harley is not making a good product anymore.Now don't get me wrong i'm not bashing them although i have good reason to.