John Deere to lay off roughly 600 employees from three US factories

Source: CNN Business

“John Deere announced it will lay off about 600 employees across three US factories as the Illinois-based company shifts production to a newly planned facility in Ramos, Mexico. Effective August 30, about 310 employees will be laid off at two Iowa-based plants in Dubuque and Davenport, as well as 280 from a factory in East Moline, Illinois. In total, the three factories have roughly 4,175 production and maintenance employees. The Illinois factory primarily produces harvesting equipment such as combines, while the two Iowa factories manufacture construction and forestry equipment. The decision is the latest in a string of production layoffs by the farm-equipment manufacturer over the past year. Deere has sought to reposition itself as a technology company amid falling agricultural revenue in the United States.” (07/07/24)