MOLINE, Ill., Jan. 23, 2015 /CNW/ -- Deere & Company
(NYSE: DE) today announced it will make workforce adjustments at
several factories in Iowa and
Illinois. The actions include
indefinite layoffs at five locations that build agricultural
equipment as well as an extended inventory adjustment shutdown at
another factory. In addition, Deere said it has added new jobs at
two locations that build construction and forestry equipment.
Deere said the workforce adjustments reflect the economic
forecast included in the company's November
2014 earnings report as the company continues to align the
size of its manufacturing workforce to market demand for
products.
The changes will place approximately 910 employees on indefinite
layoff from facilities in Iowa and
Illinois. Deere said the
approximate number of layoffs at each location include 565 total at
three locations in Waterloo, IA;
300 at the Des Moines Works in Ankeny,
IA; and 45 employees at Harvester Works in East Moline, IL.
In addition, approximately 500 employees at Deere's Seeding and
Cylinder facility in Moline will
go on an extended inventory adjustment shutdown. That location
typically has a seasonal inventory adjustment this time of year.
For Seeding and Cylinder employees, the adjustment shutdown is
expected to end in late summer.
The layoffs announced today are effective at different dates for
each location. They begin in early February and most are effective
in late March. Today's announcement is in addition to workforce
adjustments announced in August.
Meanwhile, Deere has added 220 new jobs at construction and
forestry factories in Iowa. These
two factories - Dubuque Works and Davenport Works – have each added
110 new jobs. Deere said nearly all of these positions have been
filled by individuals who had been working for Deere at other
locations but were laid off after the company announced workforce
reductions at agricultural equipment factories in August.
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SOURCE Deere & Company