Overview

• More than 600 production workers will be laid off in Illinois and Iowa by August 30.
• John Deere's revenue dropped over 15% in the second quarter, marking three consecutive quarters of decline.
• Farmers are purchasing less equipment as net farm income is projected to decrease by 25% in 2024.
• The company is shifting some manufacturing operations to Mexico by the end of 2026.
• Laid-off employees will receive supplemental benefits and have seniority for other job openings within the company.