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. http://yhoo.it/1yZgtZq http://bit.ly/1fJ5yqZ
Deere to Cut More Than 900 U.S. Workers as Farm Economy Weakens
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. http://yhoo.it/1yZgtZq http://bit.ly/1fJ5yqZ
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