Deere & Co. Announces Dubuque Layoffs
KCRG has reported that Deere & Company will eliminate 105 jobs in Dubuque.
The company will lay off those employees, citing "market conditions". This is the company's third round of Iowa layoffs in the past 6 months, with Davenport having eliminated 113 positions in October, and another 57 in Davenport in December.
Deere & Company Director of Strategic Public Relations Ken Golden said:
Each Deere factory balances the size of its production workforce with customer demand for products from their individual factory
Further information states the layoffs will take effect on April 6. The news comes despite apparent growth by the company, as in November they announced that their net sales had increased by 4 percent in the fourth quarter and that construction and forestry reported higher sales and profit for the year. In Dubuque, John Deere focuses on the manufacturing of forestry and construction equipment, not tractors.
The total net income was $3.3 billion and they expected 2020 to be between $2.7 and $3.1 billion.