The farm-equipment manufacturer will lay off about 600 employees across three US factories as it shifts production to a newly planned facility in Ramos, Mexico.
Deere's (DE) price performance is unimpressive so far this year, reflecting a weak demand outlook for agricultural equipment amid low commodity prices and farm income.
John Deere has announced another wave of layoffs, telling around 610 production staff at plants in Illinois and Iowa that they will be out of a job by the end of the summer.