Salaried employees at Deere and Co. are layoff Wednesday morning
The employees were listen the news around 9 am. Sources who spoke layoffs said meetings were held virtually.
Deere declined to say. The number of people affected is not known,
Deere has previously adds that salaried employees were likely to lose jobs.
Layoffs are cyclical at the ag manufacture as demand for farm equipment rises and falls.
John Deere like many others in industry faces huge economic challenges rising operational and manufacturing costs and reduced consumer demand including 20 percent fall in sales from 2023 to 2024.
We are committed to provide help and benefits to affected salaried employees. We are extending the following help to affected salaried employees in US.
Pro rated short term incentive STI and long term incentive cash compensation benefits.
Up to 12 months of severance based on years of service
Payment for any earned and unused vacation or paid time off and other factors.
Access to ongoing health and wellness benefits and 12 months of professional job placement services.