Deere is laying off nearly 600 workers as the farm equipment manufacturer deals with declining demand.
Deere said the production positions being cut are concentrated at two factories in Iowa and one at its home base in Moline, Illinois, where 280 employees will be laid off effective Aug. 30th. A combined 310 workers will be let go at the Iowa locations.
In its most recent quarter, Deere reported a more than 15% decline in revenue, the third straight quarter of year-over-year sales declines.
(This story is via AP)
