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John Deere has cut more than 4,500 jobs since 2015

by Jennifer Bamberg, Investigate Midwest

January 14, 2025

For nearly 200 John Deere workers in Iowa, the first few days of 2025 marked the end of their employment. 

On Jan. 3, 112 employees were laid off at the Waterloo facility and 80 were laid off at John Deere Davenport Works. Next month, 75 additional employees will be laid off at a plant in Ottumwa, Iowa,  according to a review of WARN layoff data.https://datawrapper.dwcdn.net/5Gw6f/8/

The Moline, Illinois-based agricultural giant laid off 2,167 workers in 2024 at facilities in Waterloo, Davenport, Dubuque, Ankeny, Johnston, Urbandale, Ottumwa in Iowa and in Moline and East Moline in Illinois, according to layoff data.

In a statement issued Monday, Deere attributed the cuts to “challenging market conditions” and subsequent lower demand from farmers.

Deere’s profits peaked at record highs in 2022 at $10.16 billion, partly due to Russia’s invasion of Ukraine that sent crop prices soaring in the U.S., allowing farmers to spend more on equipment, according to Bloomberg. Since then,sales have declined 20% and Deere’s stock price is down 16%, according to the company. Profits in 2023 fell to $7.1 billion.

The statement also noted that the average price for corn being harvested at the time was down 37% from 2022. Soybean prices were down 24% and wheat prices had declined 35%.

In June, Deere & Co announced plans to move manufacturing of skid steer loaders and compact track loaders from a facility in Dubuque, Iowa to Mexico by the end of 2026. A Deere representative told Industrial Equipment News that the move is “unrelated to the layoffs.”

In September, then-Republican presidential nominee Donald Trump threatened to impose a 200% tariff on John Deere products built in Mexico, and erroneously claimed in October that the company called off the move in response. A spokesperson for Deere & Co. told Bloomberg that no changes have been made to shift some production from Iowa to Mexico. 

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Jennifer Bamberg, Investigate Midwest Investigative Reporter

jennifer.bamberg@investigatemidwest.org

Jennifer Bamberg covers agribusiness and food systems policy in Illinois for Investigate Midwest. Bamberg previously worked as a freelance reporter in Chicago, covering labor, housing, police misconduct… More by Jennifer Bamberg, Investigate Midwest

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