From Reuters and the Des Moines Register, August 15:
After massive layoffs across its Iowa manufacturing operations, Deere & Co beat analysts' expectations for third-quarter profit on Thursday, as stronger pricing and cost control measures protected its margins from sluggish demand for its farm equipment.
U.S. machinery makers have succeeded in maintaining the price increases they implemented two years ago, a move that was prompted by supply chain complications and a surge in demand for industrial and agricultural equipment.
The higher prices have helped farm equipment makers to shield their profits from a slowdown in demand for new machines amid a decline in crop prices and high borrowing costs, which also have forced dealers to limit inventory restocking.
More:John Deere cuts nearly 500 salaried jobs in Johnston, Dubuque, Waterloo and the Quad Cities
In reaction to the downturn, Deere Beginning in March has laid off nearly 2,300 workers across its Iowa plants in Ankeny, Dubuque, Ottumwa, Urbandale, Waterloo and the Quad Cities’ Davenport and East Moline, as well as at an Urbandale research center, its Moline, Illinois, world headquarters, and other white collar offices in Johnston and Dubuque....
....MUCH MORE
Last I saw the satanic layoff machine was up 6.66% (+$23.41) at $374.69.
Just kidding DE, move them jobs to Mexico:
- Deere moving some production from Dubuque to Mexico by 2026 - Yahoo Finance
- Deere announces another production move to Mexico. This time, the mowers that will be produced at the Ottumwa plant.
- Deere Moving Portion of Its Loader Production to Mexico, Signals New ...