Deere Layoffs 2024: What to Know About the Latest Job Cuts

Group 1 - Deere announced job cuts in 2024, affecting both production and salaried workforce to align with strategic priorities and reduce redundancy [1] - The layoffs are expected to begin later this year, with salaried job cuts scheduled for the third quarter of 2024 [1] - The company stated that these workforce reductions do not alter its previous guidance issued on May 16 [1] Group 2 - The trend of layoffs is not isolated to Deere, as many companies are cutting operating costs in response to high inflation and interest rates [2] - As of Wednesday morning, Deere's stock (DE) is down slightly, with a trading volume of 359,000 units compared to an average of 1.4 million shares [2]