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  
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