HOG - Harley-Davidson unveils additional restructuring actions exits Indian market

Harley-Davidson (HOG) approved commitments to additional restructuring actions under The Rewire plan related to optimizing its global dealer network, exiting certain international markets, and discontinuing sales and manufacturing operations in India.The India action will include an associated workforce reduction of approximately 70 employees.The company expects to incur restructuring expenses of about $75M in 2020, of which ~80% are expected to be cash expenditures, including one-time termination benefits of ~$3M, non-current asset adjustments of ~$5 M, and contract termination and other costs of ~$67M.The company sees total restructuring expenses associated with Rewire restructuring actions approved through Sept. 23 of ~$169M in 2020.The company expects to complete the restructuring activities approved through Sept. 23 within the next 12 months.Source

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Harley-Davidson unveils additional restructuring actions, exits Indian market