Harley Davidson Plans Job Cuts In Fourth Quarter

(RTTNews) - Falling sales is forcing Harley-Davidson to cut its workforce. Despite popularity for its rough and tough cruiser and touring motor bikes around the world, Harley-Davidson has been facing a decline in sales and profit in U.S. market. The company reportedly plans to lay off around 300 employees in the fourth quarter and would earmark $20 to $25 million for the reorganization plan.

The Milwaukee-based company had a disappointing third quarter with profits down 18.7 percent from the previous year. U.S. retail sales declined 7.1 percent to 48,918. The company also recorded a fall in market share to 52.3 percent.

Looking ahead to the fiscal 2016, the company has cut down its outlook to 264 thousand to 269 thousand motorcycles.

Harley Davidson has been trying to rejuvenate its market by making bikes more appealing to youngsters. It has been facing challenges from Japanese and European motor bikes. Moreover, higher costs for repairs and recall of defective bikes have tarnished its image.