Agricultural machinery maker Deere & Co. (DE) announced Friday that it will place about 460 employees who work in the company's Waterloo, Iowa operations on indefinite layoff in response to current market demand for its products. It said employees were informed today of the layoffs, which are effective October 20th.
When Deere announced third quarter earnings on August 13th, the company said it planned to reduce agricultural equipment production for the balance of the year.
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