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Harley-Davidson cutting 500 jobs

Harley-Davidson on Thursday said it will lay off 500 employees this year.
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MILWAUKEE — Harley-Davidson announced Thursday it will lay off 500 employees through 2020. The motorcycle maker has been struggling as sales have been declining for the past five years in the United States. As part of the restructuring the company plans to eliminate 700 positions globally, according the to release.

In June, a Harley-Davidson spokesperson confirmed to FOX43 News that 90 employees at its Springettsbury Township plant would be laid off.  

The company's Chief Financial Officer John Olin is leaving the company. Darrell Thomas, VP Treasurer, will be assuming duties as interim CFO until a successor is appointed. 

On Thursday, Harley said they will lay the foundation for a five-year strategic plan to revive sales they expect to share in the fourth quarter.