Deere & Company Layoffs: DE to Cut Jobs in Illinois, Iowa

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Deere & Company (DE) has announced that it will be laying off employees in 2015.

deere-&-company-layoffs-deDeere & Company said that it will layoff roughly 800 employees in Illinois and Iowa. There will be 565 layoffs at three of the company’s facilities in Waterloo. An additional 300 will be laid off from the Des Moines Works plant in Ankeny, reports KCCI Des Moines.

The Deere & Company layoffs will start in February. Each of the locations that will be hit by layoffs will have them happen at different times. The majority of the layoffs are scheduled to take place in late March. The company says the layoffs are the result of its economic forecast released with its earnings report from November 2014, KCCI Des Moines notes.

Deere & Company also noted that it has added 220 jobs at two of its factories. Each of the factories brought on an additional 110 workers. The majority of these workers were ones that had been laid off by the company in the past, reports KWQC 6.

DE shares were down slightly as of Friday afternoon.

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