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
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
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.
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
NI: FIN MAC AGR RET LABOR MNA
-0- Aug/15/2014 13:00 GMT
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