Overview

• The cuts cover 115 jobs in East Moline, Illinois; 52 in Moline, Illinois; and 71 in Waterloo, Iowa, with final workdays on August 29, September 26, and September 19, respectively.
• The company said decreased demand and lower order volumes in a struggling agricultural economy prompted the reductions.
• Third-quarter net income fell 26% to $1.3 billion and net sales declined 9% to $12 billion, according to the latest results.
• Executives reported about $200 million in tariff costs for the quarter, roughly $300 million year to date, and raised the full-year pretax tariff impact forecast to nearly $600 million.
• Criticism from Democrats targeted the tariff policy as Deere noted recall eligibility and benefits for affected workers, while peers AGCO and CNH reported similar demand softness.