Hundreds of employees in Iowa will be laid off by the end of September as a result of a large company’s harsh layoffs.
Additional layoffs of 345 production workers at John Deere’s Waterloo plant were confirmed on Thursday, with effects starting from September 20.
For the year so far at the plant, that takes the total to 894.
With a total of around 5,000 personnel, including approximately 3,000 in manufacturing and maintenance roles, it is one of Deere’s largest divisions.
As of August 9th, seven workers will be let go from the company’s operation in Coffeyville, Kansas.
About 145 of the 245 employees are directly involved in production.
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With agricultural prices falling, the company is seeing a decrease in demand for its farm equipment.
The Des Moines Register was informed by John Deere, the biggest producer of agricultural equipment worldwide, that the company, along with others in the sector, is confronted with substantial economic obstacles, such as increasing worldwide operational and production expenses and diminished consumer demand.
A drop in demand for the goods made there has necessitated these adjustments.
Industry sales are projected to fall 20% from 2023 to 2024, as mentioned in our conference call for the second quarter.
According to data filed to the state’s WARN site, the total number of layoffs in Iowa since the beginning of 2024 would reach 1,429 if the extra layoffs in Waterloo are included.
Ankeny, Davenport, Dubuque, and Urbandale are among the several locations where John Deere has laid off workers.
The corporation has also extended retirement benefits to 103 workers at the Ottumwa facility.
Employees are eligible for recall to their home plant during their service time, according to the business, and laid-off workers are automatically placed in seniority order for any available jobs they qualify for.
Along with state unemployment benefits, laid-off workers receive supplemental unemployment compensation, which, depending on their length of service, covers around 95% of their weekly net salary for a maximum of 26 weeks.
According to the Des Moines Register, individuals can continue to receive transitional assistance pay, which covers half of their typical weekly earnings, for a maximum of 52 weeks when the additional pay ends.
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