John Deere announces mass layoffs in Midwest amid production shift to Mexico
What compensation is offered to laid-off John Deere workers?
Laid-off John Deere workers are offered a Supplemental Unemployment Benefit (SUB) that covers about 95% of their weekly net pay for up to 26 weeks, depending on their years of service. They are also given profit-sharing options and health benefits.
When are the John Deere layoffs effective?
The John Deere layoffs are effective from August 30, as mentioned in a press release cited by several outlets. These layoffs involve around 610 production staff at plants in Illinois and Iowa, and are being made due to reduced demand for John Deere's products from those factories.
What reasons did John Deere cite for the layoffs?
John Deere cited reduced demand for its products from certain factories, rising operational costs, and declining market demand as reasons for the layoffs3. The company aims to achieve its strategic priorities by reducing overlap and redundant roles and responsibilities.