NEW YORK: Motorcycle maker Harley-Davidson will be slashing 1,000 more jobs in the coming months after posting a steep fall in second quarter profits. The company would be trimming 700 positions in the hourly production workforce and non-production head count by about 300 jobs.
Harley Davidson in a statement today said the profit for the second quarter slumped 91 per cent to USD 19.8 million for the three months ended June 28, 2009. It had a profit of USD 222.79 million in the year-ago period.
"The company will implement a further reduction this year of approximately 700 positions in the hourly production workforce. "Harley-Davidson will also be reducing the non- production, primarily salaried head count by an approximate 300 additional positions, including a reduction at Harley- Davidson Financial Services (HDFS)," the firm said in a statement today.
Earlier this year, the bike manufacturer announced job cuts totaling about 1,400 to 1,500 jobs. In the second quarter, the firm recorded revenues of USD 1.15 billion against USD 1.57 billion in the same period a year ago.
According to the statement, the company recorded a non-cash, one-time USD 28.4 million impairment charge to write off the goodwill recorded in connection with the 1995 purchase of HDFS..
Source:
http://economictimes.indiatimes.com/News/News-By-Industry/Jobs/Harley-Davidson-t
Harley Davidson in a statement today said the profit for the second quarter slumped 91 per cent to USD 19.8 million for the three months ended June 28, 2009. It had a profit of USD 222.79 million in the year-ago period.
"The company will implement a further reduction this year of approximately 700 positions in the hourly production workforce. "Harley-Davidson will also be reducing the non- production, primarily salaried head count by an approximate 300 additional positions, including a reduction at Harley- Davidson Financial Services (HDFS)," the firm said in a statement today.
Earlier this year, the bike manufacturer announced job cuts totaling about 1,400 to 1,500 jobs. In the second quarter, the firm recorded revenues of USD 1.15 billion against USD 1.57 billion in the same period a year ago.
According to the statement, the company recorded a non-cash, one-time USD 28.4 million impairment charge to write off the goodwill recorded in connection with the 1995 purchase of HDFS..
Source:
http://economictimes.indiatimes.com/News/News-By-Industry/Jobs/Harley-Davidson-t
