In Wake of Trump Tariffs, John Deere Announces Mass Layoffs

[In It to Win It]

https://newrepublic.com/post/199266/donald-trump-tariffs-agriculture-john-deere-mass-layoffs

John Deere has been hit hard by President Donald Trump’s tariffs. The farm equipment manufacturer and industry bellwether just announced mass layoffs affecting more than 200 workers at three Midwestern plants.

The company is set to fire 115 employees at a facility in East Moline, Illinois, later this month, according to the Des Moines Register. Next month, 52 workers at a facility in Moline, Illinois, and 71 employees at a facility in Waterloo, Iowa, will also reportedly be terminated.

“As stated on our most recent earnings call, the struggling ag economy continues to impact orders for John Deere equipment,” said the company in a statement, per Illinois Public Media. “This is a challenging time for many farmers, growers and producers, and directly impacts our business in the near term.”

In that same earnings call, John Deere attributed a slowdown in Q3 sales to customer cautiousness amid Trump’s freewheeling tariff policy.

“If you have customers that are concerned about what their end markets are going to look like in a tariff environment, they’re waiting to see the outcomes of what these trade deals look like,” said John Deere executive Cory Reed.

[Botany]

1. and how did those John Deere employees and management vote?

didn't it suck that under Biden/Harris we had the #1 economy in the world, we had huge foreign and domestic
markets for our products including hard goods, agricultural products, and technologies?

btw the Trump as a business whiz was a 100% phony persona sold to us by lies and Russia too.

[Prairie Gates]

5. For what it's worth, Moline, East Moline, and Waterloo precincts went heavily for Harris

I think something like 20 out of 25 Waterloo precincts voted Harris, who also won Black Hawk County, if narrowly. Harris won Rock Island County in Illinois, too, with her main strength there coming from Moline.

Given the vote numbers in these locations, there's a good chance that there are many Harris voters among the laid off here. This isn't quite the FAFO situation many are imagining.

[Botany]

10. Thank you

K I G aka knowledge is good

[TnDem]

12. I have family in that area

Heavy Democratic area, two to one.

[MichMan]

9. Deere has been reducing its workforce for the last couple years

WATERLOO — Deere & Co. informed employees this week the company will lay off another 345 Waterloo workers this fall.

Employees received an email Wednesday stating: “Today, we are announcing that John Deere Waterloo Operations will lay off 345 production employees effective September 20, 2024. This layoff is indefinite and affects production workers with the least seniority at Waterloo Operations

"As the largest global manufacturer of agricultural equipment, John Deere, like many others in the industry, faces significant economic challenges, including rising global operational and manufacturing costs, and reduced customer demand,“ the company said in an email to The Courier.

"These changes are being made due to reduced demand for the products produced at these facilities. As stated in our second quarter earnings call, industry sales are expected to further decline 20% from 2023 to 2024."

https://www.wqad.com/article/money/business/john-deere/john-deere-waterloo-layoffs-announced/526-20daf029-90d1-4d95-b76c-afcc17c40474

[Botany]

11. Thank you

Knowledge is Good

[Old Crank]

2. John Deere needs to g(r)ift Trump

10 percent or so of their company. Then it will be all good.

[Hugin]

4. His investment acumen is well honed...

Six bankruptcies (that we know of) has left many layers of rancid ketchup on the wall.

[Hugin]

3. Ironic there...

Waterloo.

One can only hope that Napoleon Bonespurs meets his own soon. His hundred days are well over.

[Sequoia]

13. An old country song...

"...Waterloo, where will you meet your Waterloo." That's when I first learned about "little General, Napoleon of France." Sigh, we can only hope...and vote.

[Emile]

6. I saw Trump wearing a ball cap with the message "Trump Was Right About Everything"

what the hell.

[BoRaGard]

7. "We did this. Sorry. Not sorry that we are such a-holes." - G.O.P.