Another American company is purportedly moving to eliminate some of its domestic employees in favor of expanding its operations south of the border, according to a recent report by The Guardian:
“US workers at John Deere plants have accused the company of acting on ‘greed’ as America’s most famous agricultural equipment company plans to shift more production to Mexico.
“The company – famous for its green tractors and leaping deer logo – has announced layoffs of several hundred workers over the last several months with more layoffs planned for later this year.
“‘We get wind of more layoffs daily, it seems, and it’s causing uncertainty all over,’ said a longtime John Deere worker at the Harvester Works plant in East Moline, Illinois, who requested to remain anonymous for fear of retaliation. ‘The only reason for Deere to do this is greed.’
“They cited the company’s recent profits. John Deere reported a profit of over $10bn in fiscal year 2023 and its CEO John May received $26.7m in total compensation. John Deere spent over $7.2bn on stock buybacks in 2023 and provided shareholders with more than $1.4bn in dividends.
“The worker said: ‘Our harvester plant is still in production and management has been quiet. They’re not doing the normal ‘time to talk’ meetings as they have in recent past. My belief is that they don’t want people to know they are losing their jobs until they get everything built for the year.'”
To read the entire article by The Guardian, please click HERE.