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Harley to slash jobs as profit sinks

July 17, 2009|Times Wire Reports

Motorcycle giant Harley-Davidson Inc. said it was cutting 1,000 employees, or 11% of its workforce, as it posted a steep decline in its second-quarter profit.

Harley said its profit sank 91% to $19.8 million, or 8 cents a share, in the quarter that ended June 28, down from $222.8 million, or 95 cents, a year earlier. Sales fell 27% to $1.15 billion.

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