Triumph Motorcycles is to cut 400 jobs worldwide, 240 of which are in the UK.
The Hinckley-based factory said the cuts are the result of a big drop in sales due to the coronavirus pandemic.
Triumph’s HQ is Hinckley, but it’s also got factories in Thailand and assembly operations in Brazil and India. At the minute it employs around 1,000 people in the UK and 2,500 people around the world. That means the losses equate to a 6.25% reduction in staff numbers.
Speaking about the news, Triumph Motorcycles Chief Executive Nick Bloor said: “These are not only challenging times for everyone as individuals, but also for the company. No business could have anticipated the scale of the coronavirus crisis and its economic consequences.
“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.
“These are not easy decisions to make, especially when individuals’ livelihoods are affected; however regrettably the scale of impact of Covid 19 necessitates us to restructure now in order to protect the long term health and success of the Triumph brand and business.”