It isn’t new as Harley is still under challenging time and for the last couple of years.
Harley is trying to see what it takes to change the perception and attract new buyers. However, 2019 annual report shows a decline in sales.
It had escalated so much Harley decided to bring in new CEO, and Jochen Zeitz replaced Matt Levatich.
To overturn the drop in sales, which is close to 25%. Zeitz now has applied an aggressive strategy by reducing the salaries of his executives by 30%, 10 to 20% of employees.
Plus we could also see layoffs and Harley is expected to infuse liquidity via a request for $150 loan in 2021.
Harley will, however, continue with there ” ReWire ” strategy based on below five points.
- Enhance core strengths and better balance expansion into new spaces.
- Prioritize the markets that matter.
- Reset product launches and product line up for simplicity and maximum impact.
- Build the Parts & Accessories and General Merchandise businesses to full potential and
- Adjust and align the organizational structure, cost structure and operating model to reduce complexity and drive efficiency to set Harley-Davidson up for stability and success.
Source: Harley
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