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DEERE CUTS PRODUCTION, JOBS AMID SOFTENING GROWER SENTIMENT

June 17, 2024 | Posted in Earnings Reports, Equipment & Equipment Sales

Since March, Deere & Co. has cut 773 jobs in Iowa alone, according to Iowa’s
WARN log as of June 11. The latest cuts — 120 employees at the Seeder and
Cylinder plant in Moline, Ill. — were announced June 5. The layoffs follow
Deere’s plans for continued reductions in production for the second half of the
year. 

During its 2Q earnings call in May, Deere management focused instead on
reductions in production and inventory…

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KEYWORDS 2Q Cory Reed Deere Deere & Co. grower inventory management Josh Beal
Josh Jespen JP Morgan Rohleder Tami Zakaria WARN


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