John Deere to lay off up to 600 staff across three US factories
US media outlets are reporting that John Deere will lay off about 600 staff member across three of its US production sites in August, due to the market downturn.
The layoffs are effecting workers at Deere's construction and forestry plants in Iowa and its combine plant in Illinois.
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It has been reported across various US media outlets that John Deere is on the cusp of laying off in the region of 600 employees across three US factories at the end of August.
A total of about 310 staff are set to be laid off across two of the company’s Iowa plants, in Dabuque and Davenport, responsible for construction and forestry equipment. Meanwhile, a further 280 employees are reported to be laid off at the same time from its combine factory located in East Moline, Illinois.
Combined, the three facilities are believed to employ 4,175 staff across production and maintenance roles.
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John Deere has said that such moves have been made in light of the reduced demand for the products manufactured at each of the sites.
This news comes shortly after John Deere reported a net income figure of $10.6bn during 2023. In May it was forecast that 2024 earnings would be $7bn as a result of higher production costs, lower shipment volumes and challenging weather events, leaving customers more cautious.
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Title: John Deere to lay off up to 600 staff across three US factories
US media outlets are reporting that John Deere will lay off about 600 staff member across three of its US production sites in August, due to the market downturn.
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It has been reported across various US media outlets that John Deere is on the cusp of laying off in the region of 600 employees across three US factories at the end of August.
A total of about 310 staff are set to be laid off across two of the company’s Iowa plants, in Dabuque and Davenport, responsible for construction and forestry equipment. Meanwhile, a further 280 employees are reported to be laid off at the same time from its combine factory located in East Moline, Illinois.
Combined, the three facilities are believed to employ 4,175 staff across production and maintenance roles.
John Deere has said that such moves have been made in light of the reduced demand for the products manufactured at each of the sites.
This news comes shortly after John Deere reported a net income figure of $10.6bn during 2023. In May it was forecast that 2024 earnings would be $7bn as a result of higher production costs, lower shipment volumes and challenging weather events, leaving customers more cautious.
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