Falling grain prices continue to hurt John Deere. The Moline, Ill.-based Deere and Co. said Friday that it would lay off 910 workers in Iowa and Illinois, in yet another reduction in its American workforce.
The newest layoffs will affect Deere facilities in Waterloo, Iowa; the Des Moines Works in Ankeny, Iowa, and the Harvester Works in East Moline, Ill. It represents the third round of layoffs at Deere, which cut more than 1,100 positions in the Midwest last summer as the farm economy slowed.
The economic situation has forced Deere to adjust its business forecasts. The company said in November that it expects $1.9 billion in earnings for fiscal 2015, which was less than analysts expected.
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