Business

Deere cuts more jobs

Monday's decision by Deere comes just after a second round of buyouts for salaried employees ended Friday (Deere and Co.
Monday’s decision by Deere comes just after a second round of buyouts for salaried employees ended Friday (Deere and Co.)

More jobs are being eliminated at Deere and Co.

Deere officials would not comment on how many salaried positions are being cut as of Monday.

“As part of the smart industrial redesign, we are aspiring to become a leaner organization that’s more capable of responding to rapidly changing market conditions and customer demands with enhanced speed and flexibility,” a Deere statement Monday read.

“To do this, we’re broadening spans of control and reducing layers across our company to further empower employees, drive efficiencies, improve communication, and respond to changing market conditions more quickly.

“Further, we are balancing our cost structure to create a more customer-drive and streamlined organization.”

The smart industrial redesign is the latest step taken by the Moline, Ill.-based manufacturer as it continues to focus on precision ag — the use of technology in equipment to allow operators to more precisely maneuver in their fields.

Monday’s decision comes immediately after a second round of buyouts for salaried employees ended Friday, July 31, which was also part of the smart industrial redesign. The two actions are unrelated, a Deere official said.

That was the second round of buyouts for salaried positions in 2020.

Production workers also have been subject to layoffs at Deere facilities in the Quad Cities and Iowa. Most recently, 35 workers were let go in Waterloo effective Monday.

Deere canceled a plan to lay off 82 in Davenport in recent weeks.

Deere will report its financial earnings on Aug. 21.

The restructuring comes after two years of trade wars concluded with a new trade agreement between the United States and China, just as the coronavirus pandemic took hold.

In late May, Deere reported net income was projected to fall $1 billion this year.

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