Harley-Davidson says plans to cut about 200 jobs
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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
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(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)
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