John Deere to Layoff Close to 1000 in Operations Due to Falling Grain Prices

The bad news, John Deere plans to pink slip close to 900 employees from its plant operations. The good news, the layoffs will not effect workers in Valley City or Fargo.

The news came late Friday afternoon from Chicago, due to the decline in grain prices and the reduction in farm equipment demand and a slump in purchases, more than 900 employees from the worlds largest maker of farm equipment and machinery will be unemployed starting next month.

The employee reduction represents about 3% of the work force in the US and Canada.

Company spokesperson said the  layoffs will not affect John Deere employees in Fargo or Valley City.

The hardest hit area will be Iowa, over 500 workers will be laid off in Waterloo, 300 in Ankeny and close to 50 in Moline, Ill., plus another 500 employees at Moline will furloughed .

Deere said in the statement "the reductions are to align the size of its manufacturing workforce to market demand for products,"

(source)