September 11, 2009
MOLINE, Ill. (AP) — Deere & Co. said Thursday it plans to lay off 367 production workers at its John Deere Harvester works in East Moline, Ill., due to weak demand for the factory's products.
The world's largest maker of farm equipment said the indefinite layoffs, effective Sept. 21, will affect workers with the least seniority. Workers were informed of the planned cuts Thursday, the company said.
The remaining production workers face a four-week shutdown for inventory adjustment and a two-week shutdown for vacation, also starting Sept. 21.
The John Deere Harvester Works makes combines and front-end equipment for harvesting.
Shares of Deere edged up 2 cents Thursday to close at $43.03.