Deere announces factory layoffs

MOLINE, Ill., Aug. 15, 2014 /CNW/ -- 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 
Ken Golden, Director, Global Public Relations, 309-765-5678 
CO: Deere & Company
ST: Illinois
NI: FIN MAC AGR RET LABOR MNA  
-0- Aug/15/2014 13:00 GMT
 
 
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