Deere announces 460 Waterloo layoffs Deere announced that it will place approximately 460 employees who work in the company's Waterloo, Iowa operations on indefinite layoff in response to current market demand for its products. Deere said employees were informed today of the layoffs, which are effective October 20. When Deere announced third quarter earnings on August 13th, the company said it planned to reduce agricultural equipment production for the balance of the year.
USDA data improved but still implies row crop cash decline, says Wells Fargo Wells Fargo said the January data in the USDA's WASDE report indicates row crop cash flow will drop 18% year-over-year, which is improved from the 21% decline implied by the December report, but remains negative for Agricultural equipment makers like AGCO (AGCO) and Deere (DE). The firm maintains its Underperform rating on AGCO and Market Perform rating on Deere.