Just a day after reporting record quarterly profits, Deere and Company has announced layoffs at its combine plant in the Quad Cities. Spokesman, Ken Golden, says about 120 jobs will be cut at the John Deere Harvester Works in East Moline. He says the company must continue to match the size of the workforce with demand.
“We believe the farm equipment industry in the U.S. and Canada will be down about five to ten percent this year over a year ago, and actually all of our markets around the world in farm equipment are down somewhat. So the impact of this kind of news when we believe the markets are decreasing is that we have to balance the size of the workforce. This is never easy. This is always tough,” says Golden.
About 2,000 people work in production at the Harvester Works, and the layoffs will be based on seniority. Golden also says over the last three years, Deere has added 450 jobs at the Harvester Works. Total employment at Deere's East Moline combine plant is currently around 2,800. The layoffs will take effect on March 31st.
Wednesday, the company said it earned a 681 million dollars in the first quarter.