Deere & Co. announces nearly 600 layoffs in Illinois, Iowa ...Middle East

Deere & Co. is laying off nearly 600 workers as the farm equipment manufacturer deals with declining demand. Deere confirmed Monday that the production positions being cut are concentrated at two factories in Iowa and one at its home base in Moline, Illinois, where 280 employees will be laid off effective Aug. 30. A combined 310 workers will be let go at the Iowa locations. In its second-quarter earnings release in May, Deere reported a more than 15% decline in revenue, the third straight quarter of year-over-year sales declines. Company executives said at the time that they expected further sales declines in the second half of the fiscal year and said it would continue to “take

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