1 month ago from qconline.com
From from qconline.com:
Deere & Company today announced it will lay off more than 600 workers at four locations, including Deere Harvester Works in East Moline and John Deere Seeding and Cylinder in Moline, in response to a slower market.
The other two plants are John Deere Des Moines Works in Ankeny, and John Deere Coffeyville in Coffeyville, Kansas. Affected works at all four plants have been informed.
In its press release, Deere said it's also implementing seasonal and inventory adjustment shutdowns and temporary layoffs at several of the affected factories.
When Deere announced third quarter earnings on Wednesday, the company said it planned to reduce agricultural equipment production in the company’s fourth quarter.
Deere has consistently said that to remain globally competitive, the company must align the size of its manufacturing workforce with market demand for products.