John Deere to lay off 112 workers in Iowa due to reduced equipment demand and financial losses.

John Deere plans to lay off 112 workers at its Waterloo, Iowa, plant starting January 3, due to reduced demand for its equipment and a $3 billion loss in fiscal year 2024. This follows previous layoffs totaling over 1,000 workers in Waterloo since the start of 2024. The company cites challenging market conditions, including falling crop prices and a slowdown in home construction, as reasons for the cuts. Laid-off employees will receive benefits including unemployment pay, health care, and profit sharing.

December 03, 2024
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