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Deere To Recall 450 Workers In Iowa
By Daniel Lovering, AP Manufacturing Writer
Manufacturing.Net - October 28, 2009
MOLINE, Ill. (AP) -- Farm equipment maker Deere & Co. said Wednesday
it will recall most of the workers it laid off from an Iowa plant
earlier this year to start production of the company's 2010 models.
Deere, based in Moline, Ill., said the 452 manufacturing employees
will be recalled to its John Deere Ottumwa Works starting Nov. 30.
They are expected to return to work before Deere's annual holiday
shutdown, which starts Dec. 23.
But 78 other workers will remain laid off until market conditions
improve enough to warrant their return, the company said.
In June, Deere said it would temporarily lay off 494 of the factory's
workers due to weak demand amid the global economic slowdown. That
followed a layoff of 40 employees in April.
The Ottumwa Works, which makes equipment such as balers and pull-type
forage harvesters used by hay and livestock producers, employed about
260 salaried employees and 720 wage employees, including those who
remain laid off.
Deere, the world's largest maker of farm machinery, has faced
diminished demand amid the economic downturn and lower commodity
prices, which affect the buying habits of farmers. In August, the
company trimmed its sales projections for 2009, saying it expects the
biggest single-year sales drop in at least 50 years, but reiterated an
annual profit forecast of $1.1 billion.
In response, Deere has cut costs and laid off hundreds of workers,
though many have since been recalled. The Ottumwa recall will be the
largest of several over the past four months. Other large machinery
makers, such as Caterpillar Inc., have been forced to cut larger
numbers of workers because of shrinking demand.
Shares of Deere slid $1.33, or 2.8 percent, to $45.63 in afternoon
trading.
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