Harley-Davidson Sending Out Layoff Notices

MILWAUKEE, WI – December 19, 2011 – (Motor Sports Newswire) – Harley-Davidson (NYSE:HOG) has started sending pink slips to hourly workers in Wisconsin, according to Chicago Tribune.

The motorcycle manufacturer is looking to reduce the full-time headcount at its Milwaukee-area plants by about 26%, and hire more seasonal workers, the newspaper said.

Harley-Davidson spokeswoman Maripat Blankenheim said the company would wait until the Dec. 23 deadline before deciding whether to implement involuntary layoffs.

Harley-Davidson, based in Milwaukee, has been retooling several aspects of its business since Keith Wandell became chief executive in 2009. In addition to restructuring its workforce and factories, the company has begun focusing on attracting a wider range of buyers in the United States and emerging markets, added the Tribune.

Harley-Davidson should find initial resistance at its 50-day moving average (MA) of $37.32 and further resistance at its 200-day MA of $38.17.

In the last five trading sessions, the 50-day MA has climbed 0.68% while the 200-day MA has slid 0.2%.

Harley-Davidson, Inc. designs, manufactures, and sells motorcycles. The Company’s products include heavyweight touring, custom, and performance motorcycles, as well as a line of motorcycle parts, accessories, and general merchandise. Harley-Davidson also provides motorcycle floor planning and parts and accessories financing to its North American and European dealers.

SOURCE:Financial News Network