John Deere to Lay Off 610 Workers as Production Moves to Mexico
The agricultural machinery giant cites rising operational costs and declining market demand for its decision.
- Layoffs will affect employees in Illinois and Iowa, taking effect on August 30.
- John Deere will offer Supplemental Unemployment Benefits and health coverage to impacted workers.
- The company is shifting production of skid steer loaders and compact track loaders to Mexico by 2026.
- Despite a profit of $10.166 billion last year, John Deere has revised its profit forecast downward twice in 2024.
- Employees and communities express concerns over job losses and attribute the move to corporate greed.