Harley-Davidson to cut 700 jobs

The iconic American motorcycle company, Harley-Davidson, as part of a restructuring program announced in April 2020, "The Rewire" will cut 700 jobs worldwide in effort to become leaner and more efficient. CEO Jochen Zeitz said, "We've taken a hard look at our entire setup, our spending, and how work is getting done, to align our operating model, structure, and processes." John Olin, chief financial officer at Harley, has left the company after 17 years. Harley-Davidson's current VP Treasurer Darrell Thomas has taken over as interim CFO until a successor is appointed. Harley-Davidson reported motorcycle segment revenue down 8% in 2019, and shipments down 6.4% versus the prior year.