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www.wsws.org: Harley-Davidson slashes 700 jobs worldwide as stock price continues to rise

Read Full Article Here: https://www.wsws.org/en/articles/2020/07/16/harl-j16.html

Harley-Davidson slashes 700 jobs worldwide as stock price continues to riseBy Jessica Goldstein16 July 2020Last week Harley-Davidson announced that it will cut 700 positions globally in 2020.

In response to financial pressures, the company tightened its supply to avoid lowering prices, in the name of protecting profits.

The majority of younger workers worldwide, including in the US, can ill afford the expensive motorcycles, priced at an average of $20,338.

The company axed 50 jobs at its Tomahawk, Wisconsin plant and another 90 at its York, Pennsylvania plant.

The restructuring at Harley-Davidson will incur charges of $50 million, including severance and other costs.

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