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U.S. markets recover from steep losses
MILWAUKEE, July 16 (UPI) -- U.S. motorcycle icon Harley-Davidson said it would temporarily shutter production lines and cut 1,000 jobs as the recession has cut into sales.
The company said it would close its powertrain production facility in Wauwatosa, Wis., and its Harley V-Rod and Sportster facilities in Kansas City, Mo., for 14 weeks later this year.
Harley's second quarter earnings fell from $222.8 million in the second quarter of 2008 to $19.8 million in this year's second quarter, the Milwaukee Journal Sentinel reported Thursday.
Revenue fell 27 percent to $1.15 billion.
About 700 job cuts would come from hourly positions, the company said. In a previous workforce reduction this year, Harley said it would eliminate as many as 1,500 hourly jobs.
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