Layoffs at the East Moline plant could be due to a potentially bad 2024 harvest, according to a Sept. 23 report from KWQC News.
In an interview with the news station, Iowa State University Professor Dr. Peter F. Orazem said the layoffs were unusual as Deere appears ready to end 2023 in "really good shape." He said the act of laying off staff could be a more forward-thinking action, potentially as preparation for a "not as successful harvest, in terms of both prices and potentially yields."
"And so, under those circumstances, they're [Deere] anticipating farmers won't have cash on hand over the winter when they normally upgrade [their equipment].
Deere said in a statement to KWQC that "the company has consistently stated that each Deere factory balances the size of its production workforce with the needs of the individual factory to optimize the workforce at each facility."Click here to see more...