Deere lays off 163 in Quad Cities vegetation; cites market circumstances

John Deere manufactures quite a lot of development and forestry tools at its Davenport Works.

Saying it’s responding to market circumstances, Deere & Firm says it has positioned 160 staff within the Quad Cities space on indefinite layoff, together with 113 employees on the firm’s Davenport, Iowa plant, which manufactures development and forestry tools.

The Quad-Metropolis Instances studies that Deere mentioned it can put 50 employees on the firm’s Harvester Works on indefinite layoff as of October 28; the Davenport Works staff can be positioned on indefinite layoff November 18.

Responding to a Quad-Metropolis Instances request, Ken Golden, director, world public relations at Deere, mentioned no different Deere areas are included within the layoffs. “Regardless of uncertainties of present market circumstances, we stay assured in our enterprise technique and long-term future,” Golden advised the paper.

In August, Deere reported its 3Q worldwide internet gross sales and revenues decreased by 3 p.c. On the time, Sam Allen, chairman and CEO, mentioned the outcomes “mirrored the excessive diploma of uncertainty that continues to overshadow the agricultural sector.” Persevering with, he added: “On the identical time, basic financial circumstances  stay optimistic and are contributing to sturdy outcomes for Deere’s development and forestry enterprise.”

On the time, Deere mentioned it anticipated firm tools gross sales to extend about 4 p.c for the total fiscal yr in contrast with 2018. “Included within the forecast are Wirtgen outcomes for the total fiscal yr of 2019 in contrast with 10 months of the prior yr,” mentioned the report. “This provides about 1 p.c to the corporate’s internet gross sales forecast for the present yr.”