“Still, Laursen contends that the company is not lacking in funds, highlighting its substantial returns to shareholders and executive compensation.
“The thing to remember is John Deere is not hurting for cash,” Laursen stated. “They've been in the wake of record profits for years now. In fact, last year, in 2023, they experienced $10 billion in profit. They spent $7.2 billion in stock buybacks, paid $1.4 billion in shared dividends, and awarded $26.7 million to CEO John May.”
Larsen also noted that the company is in the process of acquiring new property in Ramos, Mexico to build new factories — a move he views critically.
“Let's not kid ourselves. These are jobs that won't be returning,” he remarked.”
https://www.msn.com/en-us/money/companies/devastating-retired-john-deere-employee-warns-of-significant-impacts-of-mass-layoffs-as-the-company-moves-manufacturing-to-mexico-says-the-jobs-won-t-be-returning/ar-BB1qguVB