From today's WSJ:
" Harley-Davidson Inc.'s second-quarter earnings plunged 91% amid its planned decline in shipments as the motorcycle maker will cut 1,000 more jobs and slashed its forecast for shipments again.
The company said it would cut another 700 hourly production workers and 300 nonproduction, mostly salaried workers, as a result of the lowered shipment volume. It slashed its expectations for this year's shipments, saying it now expects to ship 212,000 to 228,000 motorcycles this year, compared to April's estimate of 264,000 to 273,000.
Harley Davidson had already cut 1,400 to 1,500 hourly jobs earlier this year. The company has about 9,300 workers.
The high-end motorcycle manufacturer, which for years couldn't make enough motorcycles to meet demand, has been curtailing production and cutting jobs during the downturn. The credit crunch wreaked havoc on its finance unit, its main source of financing for buyers. However, Harley said in May that it had secured the $1 billion it needs to fund the finance unit for the year. The company also has been working to diversify its customer base to include women and young riders." ...