The company says it plans to share a summary of The Rewire, including additional costs and expected savings, when it releases its Q2 results at the end of July 2020, with a new 2021-2025 strategic plan "expected to be shared in Q4."
Described as an "overhaul of its global operating model, including a leaner, more nimble organization," Harley says that "initial Rewire actions are expected to result in restructuring costs of approximately $42m in Q2 2020.
"We've taken a hard look at our entire set-up, our spending, and how work is getting done, to align our operating model, structure and processes. We are building a strong foundation to drive a high-performance organization in the future," said Jochen Zeitz, Chairman, President and CEO.
Plan for a plan
"Significant changes are necessary, and we must move in new directions. I thank John for his commitment during his 17 years with the company and for his leadership during this critical phase of The Rewire," Zeitz said.