Deere
& Company , the world's largest maker of farm equipment, will lay off more
than 900 employees at plants in Iowa and Illinois in the latest round of job
cuts caused by a decline in grain prices that is hurting demand for agricultural
machinery. The company said in a statement the layoffs represent about 3 percent
of Deere's workforce in the United States and Canada, and are set to begin early
next month, . According to the statement, the cuts at facilities that build
agricultural equipment reflect Deere's attempt "to align the size of its
manufacturing workforce to market demand for products," Iowa will be hit hardest
by the reductions, with about 565 workers slated to lose their jobs. Also,
Deere will furlough about 500 employees at a Moline, Ill., facility as part of
an "extended inventory adjustment shutdown" expected to end in late summer,
according to the statement.
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