Deere and Co., the world’s top seller of farm machinery, will cut an unknown number of employees from its global production and salaried workforce. That’s according to a letter sent to employees last week that was acquired by Bloomberg.
Farm Policy News from the University of Illinois says a letter signed by Chief Executive Officer John May shows the company is facing rising operational costs and dropping demand. The announced layoffs will add to the more than 650 employees who have been or are scheduled to get laid off at Deere.
Meantime, Cargill workers in Ontario began a strike last week. The beef processing facility in Guelph closed down last week as hundreds of workers took to the picket lines. The cost of living and the ending of a two-dollar-an-hour COVID premium were key issues raised in collective bargaining meetings.
Cargill provided a statement saying it’s disappointed in the outcome.
