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John Deere lays off 101 employees in Waterloo
The company attributed the job cuts to decreased demand and lower order volumes
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WATERLOO — Deere & Co. on Wednesday announced another 101 layoffs at its Waterloo Operations. Affected employees' last day of work will be Oct. 17.
Waterloo Operations includes Tractor Operations, Drive Train Operations, Drive Train West, and Engine Works.
An additional 40 workers will be idled at Deere’s Des Moines Works in Des Moines, with the last day of work set on Oct. 31.
The announcement comes after 238 employees at three factories were laid off in August, including 71 in Waterloo. Their last day is Friday.
The company notified employees Wednesday morning. It attributed the move to decreased demand and lower order volumes. Production schedules at each factory vary to align with seasonal farming needs. When fewer orders are received, each factory adjusts accordingly.
These latest layoffs bring the total layoff by Deere & Co. this year to 932 employees.
Since October 2023, when the company began laying off employees, Deere & Co. has cut more than 3,500 jobs.
In total, since October 2023, Deere & Co. has laid off
Deere said affected employees in this latest round of layoffs are eligible to be recalled to their home factory for a period equal to their length of service. Those laid off are automatically placed in seniority order for openings they are qualified to perform at the factory.
Deere noted it is investing nearly $20 billion over the next decade to upgrade manufacturing facilities across the country on top of recent U.S. investments to open new facilities and expand or modernize others.
Laid-off employees will receive the following monetary benefits:
- Weekly supplemental unemployment benefit (SUB), which is dependent on number of years of continuous employment.
- Transitional assistance benefit (TAB) pay, which may cover up to 50 percent of average weekly earnings for up to 52 weeks, after SUB pay is exhausted.
- Profit sharing, which is calculated based on hours worked, average earnings, and the company’s profit margin, if they have at least one year of service by the end of the plan year.
Health care benefits that employees can receive during a layoff include:
- Employees can keep their health care coverage for at least six months, or as long as they are eligible for SUB pay, whichever is longer. After that, they can extend their coverage for another 12 months, but they have to pay the full premiums themselves.
- Weekly indemnity (WI): Employees who become disabled while on layoff can get WI benefits for the same duration as their SUB pay, if they meet the requirements.
- Employee Assistance Program (EAP): Employees and their household members can access EAP services for the duration of their recall rights. EAP provides up to eight sessions of in-person or virtual therapy per year.
Other benefits laid-off employees may receive include life insurance, legal assistance, tuition reimbursement and job-placement assistance.
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