Photo: https://about.deere.com/en-us/commitment-to-united-states-manufacturing
(Moline, IL) -- Deere and Company has begun laying off salaried employees
A statement from the company sent to WQAD News 8 does not specify the number of employees affected or the locations impacted.
The company says a reduction in product demand and increased operational costs at John Deere have led to the employee layoffs.
The full statement says:
As the largest global manufacturer of agricultural equipment, John Deere, like many others in our industry, faces significant economic challenges, rising operational and manufacturing costs, and reduced customer demand, including a 20 percent decline in sales from 2023 to 2024.
This reduction in product demand and increased operational costs have unfortunately forced us to make tough decisions including layoffs at John Deere production facilities and reductions in our global salaried workforce.
We are committed to providing assistance and benefits to affected salaried employees. As part of this pledge, we are extending the following support to affected salaried employees in the U.S.:
Up to 12 months of severance based on years of service
Pro-rated short-term incentive (STI) and long-term incentive cash (LTIC) compensation benefits
Payment for any earned and unused vacation or paid time off and other factors
Access to ongoing health and wellness benefits and 12 months of professional job placement services
While the decision to reduce roles across the company was a challenging one, the company is confident that these adjustments, coupled with our ongoing efforts to reduce costs and align production and inventory levels, will position John Deere strongly for the future.
John Deere also reiterated its commitment to US manufacturing.