John Deere continues 2024 layoffs, cutting more workers from Waterloo Works

John Deere on Thursday confirmed additional layoffs of 345 production workers from its operations in Waterloo, effective Sept. 20.

That brings to 894 the total since the beginning of the year at the plant. One of Deere's largest, it currently has about 5,000 total employees, with about 3,000 working in production and maintenance jobs. 

The company also plans to lay off seven employees from its Coffeyville, Kansas, plant, effective Aug. 9. It employs 245 people there, with about 145 working in production.

The company is experiencing a slowdown in demand for its farm equipment amid a decline in agricultural prices.

“As the largest global manufacturer of agricultural equipment, John Deere, like many others in the industry, faces significant economic challenges, including rising global operational and manufacturing costs, and reduced customer demand,” the company said in a statement to the Des Moines Register. “These changes are being made due to reduced demand for the products produced at these facilities. As stated in our second quarter earnings call, industry sales are expected to decline 20% from 2023 to 2024.”

Other layoffs by Deere in Iowa

The additional layoffs in Waterloo would bring the company's total workforce reduction in Iowa by to 1,429 since the beginning of 2024, according to numbers reported to the state’s Workforce Adjustment and Retraining and Notification, or WARN, site.

Layoffs also have occurred at John Deere facilities in Ankeny, Davenport, Dubuque and Urbandale. In addition, the company has offered early retirement packages to 103 employees at its Ottumwa plant.

The company said that for the period of their service, employees will be eligible to be recalled to their home factory, and that those laid off are automatically placed in seniority order for any available jobs they are qualified to perform.

Laid-off employees also receive supplemental unemployment pay that, when combined with state unemployment benefits, covers about 95% of their weekly net pay for up to 26 weeks, depending on their years of service. And they can receive transitional assistance pay covering 50% of their average weekly earnings for up to 52 weeks after the supplemental pay runs out.

Laid-off employees are able to continue participation in company profit sharing and still have health care coverage for at least six months, according to the Deere statement.

The statement said affected workers receive life insurance, legal assistance, tuition reimbursement and job placement assistance benefits.

Kevin Baskins covers jobs and the economy for the Des Moines Register. Reach him at kbaskins@registermedia.com.