Harley-Davidson Inc. intends to go through with a plan to cut 300–400 jobs over the next two years.
The company’s first quarter profit fell by 37 per cent, due to slowing sales, with earnings down to $117.3 million to the end of March. A year earlier, the three-month earnings were $187.6 million.
H-D will ship between 264,000 and 273,000 motorcycles to dealers this year, down 10–13 per cent from 2008 shipments.
Revenue fell to only $1.29 billion for the quarter, down two per cent. The additional job cuts bring the total number of H-D jobs lost to between 1,400 and 1,500.