Deere Announces Hundreds of Layoffs; to Affect Ankeny, Ottumwa Locations
Agricultural equipment maker Deere is announcing it will indefinitely lay off more than 600 employees at four of its factories in the Midwest. The affected sites include two in Illinois, one in Kansas, and its Ankeny facility. The company said it is also implementing seasonal and inventory adjustment shutdowns and temporary layoffs at the four affected factories as well as one in Ottumwa. Earlier this week, the company announced that its third-quarter profit dropped 15 percent as sales weakened.