240 people are to be made redundant in the UK at Hinckley-headquartered Triumph Motorcycles, with global job cuts said to be at 400.
The move comes as a result of the COVID-19 pandemic, which has significantly reduced demand for large capacity motorcycles.
The news follows the company’s decision to transfer mass production from Hinckley to Thailand, causing between 40 and 50 redundancies from its manufacturing workforce.
Chief Executive Nick Bloor said that the pandemic has significantly damaged the global motorcycle market, adding: “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.”
A consultation with staff is underway.