Harley-Davidson Inc., having already shuttered its manufacturing plants during the coronavirus pandemic, now says its executive leadership will take a 30% pay cut and most U.S. salaried employees will take pay cuts of between 10% and 20%.
Acting president and CEO Jochen Zeitz and the board of directors will forgo salary and cash compensation, the company said Wednesday as part of additional responses to the pandemic. Harley also says it has implemented a hiring freeze and there will be no merit pay increases for 2020.
“The effects of COVID-19 on economies around the world have been swift and unprecedented. It is essential for us to respond quickly, adapt and position the company to manage near-term challenges while preparing to reenergize the business for the recovery and beyond,” Zeitz said in a news release.