Triumph Motorcycles to cut 400 staff due to Covid-19

Movement control orders and government imposed lockdowns have hit the world economy hard and Triumph Motorcycles UK is no exception, having to take the step of laying off “around 400” staff from its worldwide operations. Of that number, about 240 are expected to be from its Hinckley headquarters and factory, reports Motorcycle News.

As Europe and the US move into summer, prime riding season for those regions and key markets for Triumph, sales for motorcycles above 500 cc have dropped between 40% and 65%. Triumph says its sales have stayed ahead of the decline curve to a certain extent but market demand for big motorcycles will remain soft for the foreseeable future.

“These are not only challenging times for everyone as individuals, but also for the company,” said Triumph Motorcycles CEO, Nick Bloor. “The pandemic has caused significant damage to the global motorcycle market, and, sadly, we have to respond and react accordingly as both a responsible employer and as a business that invests for the future,” he added.

Triumph Motorcycles has 2,500 staff and produces about 60,000 motorcycles a year, ranging from 765 cc naked sports bikes, retro design Modern Classics, adventure-tourers and 2,500 cc, three-cylinder power cruisers, sold through a network of 650 dealers worldwide. “These are not easy decisions to make, especially when individuals’ livelihoods are affected; however regrettably the scale of impact of Covid 19 necessitates us to restructure now in order to protect the long-term health and success of the Triumph brand and business,” Bloor said.

The post Triumph Motorcycles to cut 400 staff due to Covid-19 appeared first on Paul Tan's Automotive News.

from Paul Tan's Automotive News
Read The Rest:paultan...

No comments