John Deere has another round of layoffs scheduled at its plant in Iowa. The facility in Waterloo Works, Iowa, is the company’s largest plant.
The state’s Worker Adjustment and Retraining Notification, or WARN, website says the company will lay off more than 100 workers effective on January 5, 2025. It’s the sixth round of layoffs by Deere in Waterloo, Iowa, a focal point for tractor manufacturing. It’s cut a total of more than 1,000 workers as farm income projections for 2025 lag, depressing demand for new equipment.
Deere’s Waterloo operation currently has 4,700 total employees, with about 2,700 working in production and maintenance jobs, according to the company.
“As we recently said in our fourth-quarter earnings report, difficult market conditions will result in lower demand for our equipment, with net income down $3 billion in fiscal year 2024,” says Deere. “We need to continue making adjustments to remain globally competitive.”
NAFB news service
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