17/04/2020
Harley-Davidson has announced a wide range of cost-cutting measures in response to impact of Covid-19 on its business.
Explaining these moves, the company’s acting chief executive Jochen Zeitz said: “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 re-energise the business for the recovery and beyond.”
Harley is taking the following actions to lower costs:
Zeitz added: “We understand that navigating this new reality has a real impact on our employees. 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 has announced a wide range of cost-cutting measures in response to impact of Covid-19 on its business.
Explaining these moves, the company’s acting chief executive Jochen Zeitz said: “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 re-energise the business for the recovery and beyond.”
Harley is taking the following actions to lower costs:
- Significantly reducing all non-essential spending
- Temporarily reducing salaries
- CEO and board of directors will forgo salaries
- 30% reduction for executive leadership
- 10-20% reduction for most other US salaried staff
- No merit increases for 2020
- Implementing a hiring freeze
Zeitz added: “We understand that navigating this new reality has a real impact on our employees. 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.