Harley-Davidson takes more restructuring actions, including exiting India market

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Harley-Davidson Inc. disclosed Thursday that it informed its employees of additional restructuring actions related to its previously disclosed actions, which were related to “The Rewire” actions approved through Aug. 5. Since then through Sept. 23, the additional restructuring actions included discontinuing sales and manufacturing operations in India, which led to 70 employees being laid off. The motorcycle maker said it expects restructuring costs in 2020 of $75 million for the actions taken from Aug. 6 through Sept. 23, and total costs associated its “Rewire” actions of $169 million this year. Harley expects to complete the restructuring actions from August to be completed within the next 12 months. Harley’s stock, which was still inactive in premarket trading, has tumbled 37.4% year to date, while the S&P 500 has inched up 0.2%.
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