John Deere Lays Off 489 Workers Amid Economic Woes

John Deere has announced significant layoffs affecting 489 workers, primarily at its headquarters in Moline, Illinois, and its facilities in Iowa, due to economic challenges and reduced customer demand. The company cited a 20% decline in sales and rising operational costs as primary reasons for the reductions. In total, 1,830 positions have been cut this year across various locations, including layoffs in Ankeny, Dubuque, Ottumwa, Urbandale, Waterloo, and East Moline. The company is also moving more manufacturing to Mexico, further exacerbating job losses in the U.S. Employees impacted by the layoffs will receive severance packages, compensation for unused vacation, health benefits, and job placement assistance. Despite the layoffs, John Deere remains confident that these measures will strengthen its future position.