Production cuts at John Deere as sales decline
- Decline in tractor market pushes John Deere to announce it is making lay-offs at its North American plants
President of the Worldwide Agriculture & Turf Division; Production and Precision Ag, Americas and Australia, Deere & Co, Cory J. Reed, said:
“This is probably best exemplified by our decision to underproduce large tractor retail demand in North America in the back half of the year.
“We ended 2023 with really low levels of large tractor inventory, but we think it’s prudent to drive those levels even lower as we close out our 2024.
“The key here, is that by staying ahead of demand changes, we’re giving ourselves the optionality to react most efficiently to whichever way the market moves in the next year.”
There have been numerous reportings in the United States that the lay-offs involve between 700 and 1,000 staff at Waterloo, Des Moins and the Illinois plants.
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