According to a report from Quad-City Times, the company stated that previously announced layoffs at Deere's Davenport Works facility "will not take place." According to previous reports, 82 employees were slated to be laid off from Deere's Davenport facility on Aug. 2. The layoffs planned for Deere's Waterloo Works facility are still scheduled to go in effect on Aug. 3.
Deere did not give a reason for the cancellation of the Davenport layoffs.
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In this episode of On the Record, brought to you by Associated Equipment Distributors, Deere Director of Investor Relations Josh Beal told JP Morgan analysts that the OEM is confident it will be “producing to demand” in fiscal year 2025.
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