Harley-Davidson, US
motorcycle maker, on Thursday, said that it expects to report ‘$75 million in
additional restructuring costs for 2020 related to actions including discontinuing
its sales and manufacturing operations in India’, reported news agency Reuters.

“On September 24,
2020, the Company announced to employees additional restructuring actions
related to the set of actions that it refers to as “The Rewire.” The Company
previously disclosed restructuring actions associated with The Rewire that were
approved through August 5, 2020,” United States Securities and Exchange Commission said in a statement.

“Between August 6, 2020, and September 23, 2020,
the Company approved commitments to additional restructuring actions under The
Rewire related to optimizing its global dealer network, exiting certain
international markets, and discontinuing its sales and manufacturing operations
in India. The India action will include an associated workforce reduction of
approximately 70 employees,” the statement read.

“As a result of the
actions approved from August 6, 2020 through September 23, 2020, the Company
expects to incur restructuring expenses of approximately $75 million in 2020,
of which approximately 80% are expected to be cash expenditures, including one-time
termination benefits of approximately $3 million, non-current asset adjustments
of approximately $5 million, and contract termination and other costs of
approximately $67 million,” the statement added.

“Full implementation
of these Rewire actions may require the Company to commit additional funds for
additional contract termination and other costs. Including previously disclosed
restructuring charges, the Company expects total restructuring expenses
associated with Rewire restructuring actions approved through September 23,
2020 of approximately $169 million in 2020,” the statement further added.

“The Company expects
to complete the restructuring activities approved through September 23, 2020
within the next 12 months. Announcements associated with additional actions
under The Rewire are expected to occur, some of which will likely result in additional
restructuring charges,” the statement continued.