John Deere Layoffs Job Cut: fires 700 employees in Brazil & Iowa: Finance Trading Times

John Deere Layoffs Job Cut: fires 700 employees in Brazil & Iowa

The news is not good for the employees of John Deere Corporation or Deere Corp. The latest additon to the list of companies going for layoffs is the Deere. No one seems to be shielded from the effect of recession. It the John Deere Company, which have decided to go for the layoff. John Deere Layoffs

How many employees will be fired in the John Deere layoffs?
There could be around 700 job cuts by the company.

Which location will be affected by the layoffs?
502 workers will be fired at an agricultural harvesting equipment plant in Horizontina, Brazil. Another 190 employees in Davenport, Iowa, which makes construction and forestry equipment, will be laid off or temporarily reassigned effective Feb. 16.

What is the primary reasons for John Deere layoffs?
The main reason is the predictions in drop in sales. South American market sales could drop by 20 percent and worldwide construction and forestry equipment sales could fall by 12 percent.

Any previous layoffs by the company?
Yes. In the past six months, Deere has placed 188 employees on indefinite layoff at the John Deere Dubuque Works in Iowa.

How much savings is expected due to layoffs by John Deere?
No concrete details are available but it is learnt that company is going for all cost cutting measures.

Any other news about John Deere layoffs
The news has been reported citing an email from the top management.
Let's hope that alternative jobs are available to the affected employees of John Deere Layoffs Job Cut
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1 Comment: Post your Comments

Anonymous said...(on 29 January 2009 at 20:21 )  

30 layoffs from Torreon Mexico, 15 salaried positions including accountancy and production. 15 factory floor positions.

No counselling or assistance given.
Here is your cheque hit the road JD doing it Mexican style.

Wish you all happy and fruitful trading and investing activities with safety! = = = Post a Comment

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