Deere lays off some salaried employees

WATERLOO — Salaried employees at Deere & Co. were being let go Wednesday morning as the farm implement company continued with layoffs that have impacted hundreds of workers.

An unspecified number of employees were notified in the Cedar Valley and at other Deere locations starting about 9 a.m., workers reported. The number of people affected is unclear.

The Courier reached out to Deere for comment but had not heard back by Wednesday afternoon. The company has previously stated it would not comment until all affected employees had been notified.

Deere announced July 15 it would be laying off some salaried workers this week in an email sent to employees. The company had announced in late May that layoffs were coming for global production and salaried employees by the end of the third quarter. The July 15 email gave employees notice that details would be provided Wednesday.

“We are writing to let you know that next week, beginning on Wednesday, July 24, we are implementing additional global salaried workforce reductions,” that email stated.

“The decision to reduce positions across the organization and part with some of our dedicated and talented colleagues is a result of careful and thorough considerations. Despite our efforts to contain costs and optimize production and inventory levels, the strategies we have implemented — including a global hiring freeze — have proven insufficient in addressing the challenges posed by declining customer demand, rising costs, and prevailing economic uncertainties crucial for ensuring the long-term health of our business,” the email said in part.

The previous week, Deere informed employees the company will lay off another 345 Waterloo workers effective Sept. 20. The company also laid off seven employees at John Deere Coffeyville Works in Coffeyville, Kan., effective Aug. 9.

The company said this month that John Deere Waterloo Operations currently has about 5,000 total employees with about 3,000 working in production and maintenance jobs.

That announcement was the latest in a string of workforce reductions the company has announced in recent months.

On July 1, Deere confirmed 280 employees will be laid off effective Aug. 30 at a Moline, Ill., factory, along with 299 production employees at John Deere Davenport Works and 111 workers at John Deere Dubuque works.

On June 5, Deere announced more than 120 job cuts at Seeding and Cylinder Operations in Moline. The day before, Deere announced it was eliminating 58 jobs at John Deere Intelligent Solutions Group in Urbandale, 49 jobs at John Deere Waterloo Works and 16 jobs at John Deere Des Moines Works.

In May, 34 were laid off at Cylinder Works in Moline and 190 in Waterloo. That came after it was announced in April that 308 workers at the Waterloo factory would be laid off.

Last fall, 225 were laid off at Harvester Works in East Moline, bringing the total of laid off workers between September and Wednesday to nearly 2,000.

In its second-quarter earnings release in May, Deere reported a more than 15 percent decline in revenue, the third straight quarter of year-over-year sales declines. Company executives said at the time that they expected further sales declines.

Deere & Co. turned in a quarterly profit of $2.37 billion, down from $2.86 billion the same period the previous year, and lowered its full-year 2024 profit forecast for a second time as farmers bought fewer tractors and other equipment due to declining prices for their crops.