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Deere will lay off global production and salaried employees at the end of the third quarter

WATERLOO – Deere & Co. will lay off global manufacturing and payroll employees by the end of the third quarter of 2024, according to an email company executives sent to employees on Friday.

As first reported by KWWL, the company has announced that it will end “overlap and redundancy” by the end of July.

“Our economic reality – and that of our customers – has changed,” the email said.

It is unknown how many employees are involved and at what locations.

In response to a request from The Courier for more information, Deere & Co’s PR department sent. an email stating, “We have no additional information to share at this time.”

On Monday, The Des Moines Register reported that the company recently accepted early retirement applications from 103 factory workers at the Ottumwa plant. Employees left the company on May 31 in exchange for a lump sum.

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Friday’s email said the company “has already taken several actions to control costs, including instituting a hiring freeze. In addition, we have taken proactive steps to adjust our inventory and production levels to better off to respond to customer demand.”

After outlining the steps it is taking, including “eliminating low or no value-added tasks, activities and expenses,” the email continues: “Unfortunately, this means saying goodbye to some of our talented and dedicated colleagues in our global manufacturing and salaried employees. While this is not an easy decision, it is a necessary step we must take to ensure the long-term health of our business.”

Last month, the company informed Waterloo Operations employees that approximately 190 production workers will be laid off indefinitely, effective June 22. The company announced in March that 308 Waterloo employees would lose their jobs by the end of April.