MOLINE, Ill., Sept. 10 /PRNewswire-FirstCall/ -- Deere & Company (NYSE: DE)
said today that 367 manufacturing employees of the John Deere Harvester Works in East Moline, Illinois will be placed on indefinite layoff later this month
due to reduced market demand for the factory's products. more...

Agricultural and construction equipment maker Deere & Co. (DE | Quote | Chart | News | PowerRating), Tuesday said that about 800 salaried employees will leave the company under a voluntary separation program announced earlier. Deere expects savings of $75 million in the first year, after pretax expense of about $100 million, predominantly in the fourth quarter of 2009. The company had previously estimated a pretax expense of $50 million for the program.

The Moline, Illinois-based company in April announced a new global operating model, combining its Worldwide Agricultural Equipment division and the Worldwide Commercial & Consumer Equipment division into a single unit, the Worldwide Agriculture and Turf division, effective May 1. more...

Deere & Co. said Tuesday it will temporarily lay off most production workers at an Iowa plant as the global economic crisis weakens demand for its products.

The world's largest maker of farm machinery said 494 workers at its John Deere Ottumwa Works will be laid off indefinitely starting June 29. The factory's remaining 195 workers will be laid off periodically over the next several months, Deere said.

The Moline, Illinois-based company has coped with diminishing demand in recent months as the sagging world economy and lower commodity prices undermine demand for its products. In May, Deere reported a 38 percent decline in quarterly profit as farmers and other customers cut spending on tractors, mowers and construction equipment. It also slashed its profit forecast. more...