MOLINE, Ill., Aug. 15, 2014 /PRNewswire/ -- Deere &
Company (NYSE: DE) today announced it will reduce the size of
its manufacturing workforce at some agricultural equipment
factories in response to current market demand for its products.
The action will place more than 600 employees at four locations on
indefinite layoff.
In addition, Deere is implementing seasonal and inventory
adjustment shutdowns and temporary layoffs at several of the
affected factories. When Deere announced third quarter
earnings on Wednesday, the company said it planned to reduce
agricultural equipment production in the company's fourth
quarter.
Employees have been 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.
In July, Deere informed employees at its Ankeny facility of an extended shutdown
affecting most manufacturing employees at that location. Today's
announcement at that facility places some of the employees on
indefinite layoff. Deere also has implemented a seasonal shutdown
affecting most of the manufacturing workforce at the John Deere
Ottumwa Works, Ottumwa, IA.
SOURCE Deere & Company