John Deere will cut 238 jobs across three Midwest facilities due to weak demand and tariff costs
--- Harvester Works (East Moline, IL): 115 jobs, last day Aug 29
--- Seeding & Cylinder (Moline, IL): 52 jobs, last day Sept 26
--- Foundry (Waterloo, IA): 71 jobs, last day Sept 19Reasons include a struggling farm economy, declining orders, and higher tariffs on steel, aluminum, EU, and India imports
Financial results for Q3 2025
--- Net income down 26% year-over-year to $1.3B
--- Sales and revenue down 9% to $12B
--- Tariff costs $200M in Q3, $300M year-to-date, forecast nearly $600MCompetitors AGCO and CNH also reported lower sales, though broader S&P 500 earnings rose 11% year-over-year
John Deere plans to invest $20B in U.S. manufacturing over the next decade to offset tariff effects
Employees may be recalled and will receive benefits depending on tenure
Outlook: trade agreements and renewable fuel demand could help, but farm equipment spending is expected to remain cautious
John Deere will cut 238 jobs across three Midwest facilities due to weak demand and tariff costs
--- Harvester Works (East Moline, IL): 115 jobs, last day Aug 29
--- Seeding & Cylinder (Moline, IL): 52 jobs, last day Sept 26
--- Foundry (Waterloo, IA): 71 jobs, last day Sept 19Reasons include a struggling farm economy, declining orders, and higher tariffs on steel, aluminum, EU, and India imports
Financial results for Q3 2025
--- Net income down 26% year-over-year to $1.3B
--- Sales and revenue down 9% to $12B
--- Tariff costs $200M in Q3, $300M year-to-date, forecast nearly $600MCompetitors AGCO and CNH also reported lower sales, though broader S&P 500 earnings rose 11% year-over-year
John Deere plans to invest $20B in U.S. manufacturing over the next decade to offset tariff effects
Employees may be recalled and will receive benefits depending on tenure
Outlook: trade agreements and renewable fuel demand could help, but farm equipment spending is expected to remain cautious