John Deere Planning Layoffs At Waterloo Foundry
Deere and Company has announced a small-round of layoffs that will impact operations in the Cedar Valley beginning next month.
Company officials have informed 45 employees at the John Deere Foundry in Waterloo that they would be placed on indefinite layoff, effective Jan. 18, 2016. Eric Hodson, the company's Strategic Public Relations Manager, said John Deere workers were told about the planned cutbacks Monday morning (Dec. 14, 2015).
According to Hodson, the layoff is aligned with the 2016 fiscal year forecast that Deere announced in November. Last month's financial projections showed that total equipment sales will likely decrease seven percent in 2016.
Monday's announcement marks the third time in the past 16 months that Deere has cut its Waterloo workforce. More than 460 local employees were idled in a round of layoffs announced in August of 2014.
John Deere announced more layoffs in January 2015, when 910 employees were laid-off at facilities in Iowa and Illinois. That workforce adjustment included 565 men and women at three plants in Waterloo.