“I would characterize these actions is as measured as planful. They started with a hiring freeze and now only recently have announced layoffs. And I think they've pursued a lot of activities before coming to this decision to have layoffs,” Mitchell said, “focusing on cost control, trying to right sizing, production, hiring, freeze.”
John Deere forecasts a net income for the fiscal year (2024) to be around $7 billion. The construction industry remains consistent while global ag and turf demands are not as strong, the company said.
The layoffs come after the company announced 190 workers would lose their jobs later this month. The company also announced more than 300 layoffs in April.
Mike Schechinger, the store manager for the Van Wall Equipment location at 100th Street and Douglas Avenue in Urbandale said “It's definitely not a positive”. It’s difficult to predict the impact on his business. “I hate to see it, but hopefully that'll turn around and it'll come back,” Schechinger said.
Iowa manufacturing remains strong overall, said Association of Business and Industry President Mike Ralston.
“I expect that other employers will be able to bring the former Deere workers on board and that Deere itself, down the road, will be looking to hire again,” he said.
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