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Deere Announces Layoffs One Day After Record Profits Revealed

Thu, 13 Feb 2014 15:51:24 CST
By: AP

Deere & Co. says it will lay off about 120 workers at its combine plant in East Moline on March 31. Employees learned the news today during a meeting at the plant. About 2,800 people work at the factory. Moline-based Deere said this week that it expects the North American farm-equipment industry to see a 5 percent to 10 percent drop in sales this year after a record-setting 2013. The company also this week reported record first record first-quarter profits. Deere said the layoffs will be based on seniority.

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