John Deere Laying Off 600 Workers in Flagship Dubuque Factory for Mexico
John Deere is laying off 600+ workers in Iowa and Illinois due to shifting production to Mexico, citing operational costs and market demand decline. Workers to receive unemployment benefits. CEO cites global agricultural changes.
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John Deere, a longstanding American company founded in 1837, is laying off over 600 workers in Iowa and Illinois by August 30. This decision follows the company's announcement of shifting production to Mexico by late 2026, specifically for skid steer loaders and compact track loaders. The layoffs are attributed to rising operational costs and declining market demand, with the company experiencing a 12% decrease in worldwide net sales and revenue. John Deere had previously laid off 200 employees in May and 300 in April at its Waterloo, Iowa plant. The affected workers will receive Supplemental Unemployment benefits covering up to 95% of their weekly net pay for up to 26 weeks based on their years of service. The company's lower-than-expected Q2 2024 results were influenced by reduced demand for farming equipment due to declining crop prices. Despite generating over $10 billion in profit in 2023, John Deere reported a decrease in net income and revenue in the latest quarter. John Deere's chairman and CEO, John C. May, highlighted the ongoing changes in the global agricultural sector impacting the company's performance.
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6 commentsThen after the company makes 10 billion dollars last year, they decide to cut 600 whole people in Illinois just to take a little extra profit in a move to Mexico.
Fuck these absolute parasites in charge; they do not care at all about American anything and we should be penalizing them for caring so little. This is a bunch of horse shit.
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