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John Deere will lay off more than 300 Waterloo workers in April
Announcement comes two weeks after company announced 150 layoffs at its Ankeny location
WATERLOO — More than 300 employees at John Deere's Waterloo operations will lose their jobs in late April, the company confirmed Tuesday.
A John Deere spokesperson said 317 production workers will be laid off indefinitely April 29. Employees reportedly learned of the layoffs in meetings with factory leaders Tuesday.
"John Deere informed members of the workforce at its Waterloo Operations in Waterloo, Iowa, on Tuesday, March 26, that 317 production employees will be placed on indefinite layoff effective April 29. Employees were told of the layoffs by factory leadership in meetings today," a Deere statement said.
"Each John Deere factory balances the size of its production workforce with the needs of the individual factory to optimize the workforce at each facility. John Deere Waterloo Operations currently have about 5,500 total employees with about 3,600 of them working in production and maintenance jobs."
Numbers posted to the Iowa Workforce Development WARN (Worker Adjustment and Retraining Act) website indicated 308 workers will be idled effective April 26. The discrepancy couldn't be immediately resolved Tuesday.
The announcement comes two weeks after the company announced it will lay off 150 workers at its Ankeny location.
According to recent Deere earnings reports, the company made $10.1 billion in FY 2023 and is projecting earnings of $7.5 billion to $7.75 billion for FY 2024.
In February, the company reported net income of $1.751 billion for the first quarter of 2024, which ended Jan. 28, or $6.23 per share. That was down from the same time period last year when the company reported a net income of $1.959 billion, or $6.55 per share.
The company announced Feb. 28 that the largest, most powerful tractor it has ever made is expected to roll off the assembly lines in Waterloo in mid-2024.
The new “9RX” tractor is a flexible swivel-joint “articulated” tractor with four huge treads or “tracks.” The tractor can be fitted with 830, 770 or 710 horsepower engines.
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