Agricultural machinery maker Deere & Co. (DE) said it would reduce the size of its manufacturing workforce at some agricultural equipment factories in response to current market demand for its products. The action would place more than 600 employees at four locations on indefinite layoff.
Further, the company is implementing seasonal and inventory adjustment shutdowns and temporary layoffs at several of the affected factories. When Deere announced it third-quarter earnings, the firm announced its intention to reduce agricultural equipment production in its fourth quarter.
Employees were informed at the affected facilities, which include John Deere Harvester Works, East Moline, IL; John Deere Seeding and Cylinder, Moline, IL; John Deere Des Moines Works, Ankeny, IA; and John Deere Coffeyville, Coffeyville, KS. No other locations are included in today's layoff announcement.
Deere has consistently said that to remain globally competitive, the company must align the size of its manufacturing workforce with market demand for products. Deere had hired several hundred manufacturing employees in recent years to meet increased demand for products manufactured in its Midwest U.S. factories.
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