New Delhi: Premium motorcycle maker Harley-Davidson on Thursday announced that it is discontinuing sales and manufacturing operations in India. The company expects to report $75 million in additional restructuring costs for 2020.
“Between August 6, 2020 and September 23, 2020, the company approved commitments to additional restructuring actions under The Rewire related to optimizing its global dealer network, exiting certain international markets, and discontinuing its sales and manufacturing operations in India,” the company said in a statement.
Harley has been struggling in markets like India and intends to focus back on its core markets such as the United States.
Of the $75 million restructuring expenses, 80 per cent are expected to be cash expenditures, including one-time termination benefits of approximately $3 million, non-current asset adjustments of approximately $5 million, and contract termination and other costs of approximately $67 million, the company stated in the regulatory filing.
Harley had 70 employees in India.
Also Read: Why The Harley American Dream Didn’t Work In India
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