Harley-Davidson says plans to cut about 200 jobs
- Stocks flat as earnings roll in, Comcast drags Nasdaq
- Unusual 11 Mid-Day Movers 10/27: (PCMI) (OCN) (TTMI) Higher; (CYH) (RWLK) (AMFW) Lower
- Twitter (TWTR) Tops Q3 EPS by 4c; Announces Restructuring, Workforce Reduction
- Qualcomm (QCOM) to Acquire NXP Semi (NXPI) in $47B Deal
- CenturyLink (CTL) in Advanced Talks to Merge with Level 3 (LVLT) - DJ
The logo of US motorbike manufacturer Harley Davidson is seen on a "Heritage Softtail" in the western German city of Koblenz, March 1, 2016. REUTERS/Wolfgang Rattay/File Photo
Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here.
(Reuters) - Harley-Davidson Inc (NYSE: HOG) plans to cut about 200 positions as the company adjusts its production schedule due to a lower forecast for motorcycle shipments in 2016, a company spokeswoman said on Thursday.
In July, the manufacturer lowered its 2016 full-year shipment guidance to a range of 264,000 to 269,000 motorcycles. It had previously estimated it would ship 269,000 to 274,000 motorcycles.
Most of the job reductions are scheduled for the fourth quarter, said Bernadette Lauer, Harley-Davidson spokeswoman.
The Milwaukee, Wisconsin-based manufacturer's sales were down 3.4 percent year-to-date as of June 30 as it faces intense pricing competition from competitors in a shrinking U.S. motorcycle market.
Harley said of the 200 eliminated positions, about 115 are union jobs at its York Vehicle Operations plant in Pennsylvania, which assembles cruiser models, including the Touring, Softail and Trike. Of 1,010 employees at the York plant, 829 are union employees.
Harley-Davidson's stock closed up 0.36 percent at $52.89.
(Reporting by Meredith Davis in Chicago; Editing by Dan Grebler)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Pinnacle Foods (PF) Names New Corp. Development SVP
- Apple (AAPL) Unveils New TV App
- Apple (AAPL) Launches All-New MacBook Pro; Will Start at $1,499
Create E-mail Alert Related CategoriesCorporate News, Management Comments, Reuters
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!