John Deere to Lay Off Over 600 Workers Due to Declining Farm Equipment Demand

The company cites reduced market demand and rising operational costs as reasons for the layoffs across multiple Midwest facilities.

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.