John Deere Company plans to continue more layoffs in its global workforce. Announcing they will be cutting more jobs in its Iowa State production plants, adding to the current 2024 amount of 1700 jobs and employees. One hundred more employees were told they will be laid off from their current positions, just after the holiday seasons of Christmas and the new year.
Deere noted reasons for continued layoffs by saying the decline in need for major farming equipment, and challenging market conditions were what led to the decisions, with Deere's net income down $3 Billion Dollars in fiscal year 2024.
Deere is attempting to take care of those future laid off employees however, offering early retirements to some employees, while also offering 12 months of healthcare and transitional assistance pay covering 50 percent of their average weekly wage for up to 52 Weeks.