Hoosier AG Today and The Des Moines Register are reporting John Deere will layoff an additional 287 workers in addition to the more than 600 layoffs previously announced. The layoffs will take effect on Jan. 3, 2025.
Neither figure includes an unannounced number of salaried employees laid off at the corporate level, according to the outlets. John Deere’s stock is down 16 percent since last year. In all, nearly 2,600 operations workers have been given pink slips at six company facilities.
The company also said it plans to move the manufacturing of certain equipment from its Dubuque, Iowa facility to Mexico by the end of 2026.
The company reported nearly $10.2 billion in profits in 2023, but cites lower sales as the reason for the layoffs. In July, the company purchased 234 acres in northwestern Indiana and has plans to build a large warehouse and distribution facility in Lake County, according to The Register.
Read the entire Hoosier AG Today story by clicking this link.