John Deere laying off more employees

John Deere has announced another round of layoffs at its Ottumwa, Iowa plant. The company says approximately 75 production employees will be placed on indefinite layoff effective February 7th. The Ottumwa facility was temporarily shut down in December due to lack of demand. In its fourth quarter earnings report, John Deere cited challenging market conditions continued to result in reduced demand for its equipment. The company says its projected earnings were down $5 billion from 2023. John Deer says it will continue making workforce adjustments as needed to its manufacturing footprint.