Industry

Triumph to cut 240 jobs in the UK as part of global downsize

Triumph Motorcycles is set to cut 400 jobs from its 2,500-strong global workforce, including 240 staff from its UK operation

Triumph Motorcycles has confirmed it will lay off 400 people from its globally workforce, including almost a quarter of its total UK staff.

The British marque currently employs around 2,500 people globally, with just over 1,000 of those being stationed in the UK.

The news comes as manufacturers across the motorcycle and car industry begin to face up to the fallout of the coronavirus pandemic, which all-but-halted sales for a period of over two months.

Earlier this year Triumph warned it could initiate around 50 job losses at its UK headquarters in Hinckley – centred around its manufacturing and IT departments - as part of plans to shift the majority of its production overseas to Thailand and focus its UK operation on premium specialist models.

In a statement featured on the Leicestershire Live website, Triumph – which sold 65,000 motorcycles in 2019 globally- says it has weathered the difficult period better than some but adds it has suffered from the slump in the 500cc or larger market it largely concentrates on.

“The proposed restructure is expected to result in circa 400 redundancies from across its global workforce, including approximately 240 from its UK headquarters and operations.

“Sales in the larger 500cc plus motorcycle segment, in key markets such as France, Italy, Germany, the USA and the UK have fallen by between 40 and 65 per cent over the past three months during what would normally be the peak season for sales.

“Although Triumph sales have outperformed this significant decline to some degree, the market is forecast to remain considerably down on pre-Covid 19 levels as a direct result of the economic conditions created by it.”

The market shake up will serve to emphasise the importance of its impending tie-up with the Indian Bajaj Auto company, which will result in a new range of smaller displacement models that are aimed at growing Triumph’s market share in the crucial Asian market, as well as expand its European line-up.
 

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