Triumph Is Set to Cut 240 of UK Staff Members Due to COVID-19
Worldwide the Number Could be 400
The COVID-19 pandemic has had horrible effects on economies around the world.Triumph revealed that it is set to cut 240 UK staff members due to the pandemic. The number of people who could lose their jobs worldwide is expected to be “circa 400,” according to Motorcycle News.
Those 240 UK jobs will come out of the headquarters and operations facilities of the company. The losses of these jobs are due to dramatic restructuring within the business. According to Triumph, these measures will be taken to “protect the long-term health of the business.”
Triumph employs around 2,500 people around the world. There are about 650 dealerships around the world, too. “These are not only challenging times for everyone as individuals, but also for the company,” Triumph Motorcycles Chief Executive, Nick Bloor, said. “No business could have anticipated the scale of the coronavirus crisis and its economic consequences.”
In Triumph’s key markets (France, Italy, Germany, USA, and the UK), bike sales dropped between 40 and 55 percent. This is expected to continue, though likely not quite as dramatically in the coming months. “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,” Bloor said.