24 Jan 2009

Harley-Davidson makes cuts amid falling sales

6:55 am on 24 January 2009

Harley-Davidson is to cut jobs and production capacity due to reduced sales and falling profit amid a deepening recession.

The US motorcycle maker said on Friday 1100 jobs and production will be cut over two years. Harley-Davidson is based in Milwaukee, Wisconsin.

Profit was down 58% to $US77.8 million for the final quarter of 2008 from the same period a year earlier.

Domestic sales were down by 19.6% and worldwide sales fell 13.1%. Net profit for 2008 was down 30% to $US654.7 million.