240 of those jobs will be at Hinckley. In a statement from Triumph Motorcycles they have announced global job cuts of 400 staff of which more than half will be at Hinckley. Exactly which jobs are going have not been specified at this stage but this apparently does include the 50 job cuts that were announced previously.
Triumph were reported as saying that "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% the past three months during what would normally be the peak season for sales."
They also stated that "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."
Following the announcements of a join venture with Bajaj Auto and that all their mass production facilities were being relocated to Thailand Triumph had stated that 50 jobs would be lost. However the world-wide effects of the Coronavirus pandemic have taken their toll with people having less money to spend and not spending it on motorcycles (which are more of a luxury purchase). As this has happened during the peak season when Triumph sells a very large proportion of their products, and with no prospect of making up the sales later in the year, Triumph have had to cut costs.
The TOMCC is sad to hear of the redundancies and wish all those affected good luck in finding new employment.
