Photo: Joseph H. via https://www.facebook.com/JohnDeere/
A few days after the farming machinery and heavy equipment manufacturer announced that it will lay off hundreds of employees working at John Deere's facilities in Ankey, East Moline and Coffeyville, the company returned with more bitterness: an estimated 460 employees who work at the Waterloo, Iowa facility will be indefinitely laid off.
Effective October 20th, John Deere's workforce will suffer another blow in response to current market demand for the company's products. With sales falling approximately 15 percent in the third quarter of the current year according to what the company announced on August 13th, it's no wonder why higher-ups decided to cut down workforce expenses in order to counterbalance the company's slow sales.
"Layoffs are never easy because we understand the significant impact this action has on our employees, their families, and the community" declared Dave DeVault, factory manager for the Waterloo, Iowa facility. "We very carefully assess our workforce requirements to ensure we make the best possible decision to respond to various market conditions."
Founded in Grand Detour, Illinois back in 1837, Deere & Company is now headquartered in Moline, Illinois and was listed in 2013 as 85th in the Fortune 500 America's ranking and 307th in the Fortune Global 500 ranking, so this is one of the biggest boys in agriculture, construction and forestry equipment, all right. John Deere posted a net income of $3,537 billion in 2013 and had 67,000 employees that year.
"Layoffs are never easy because we understand the significant impact this action has on our employees, their families, and the community" declared Dave DeVault, factory manager for the Waterloo, Iowa facility. "We very carefully assess our workforce requirements to ensure we make the best possible decision to respond to various market conditions."
Founded in Grand Detour, Illinois back in 1837, Deere & Company is now headquartered in Moline, Illinois and was listed in 2013 as 85th in the Fortune 500 America's ranking and 307th in the Fortune Global 500 ranking, so this is one of the biggest boys in agriculture, construction and forestry equipment, all right. John Deere posted a net income of $3,537 billion in 2013 and had 67,000 employees that year.
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