Posted on 06/29/2024 9:49:57 AM PDT by DFG
John Deere is sparking outrage by laying off American workers and moving more of its agricultural equipment manufacturing to Mexico.
Since October 2023, more than 1,000 John Deere workers have either been laid off or pushed into an early retirement across several plants in Iowa and Illinois.
In many instances, production that these US workers were responsible for has been shifted to new locations in Mexico. The company was founded 187 years ago.
More layoffs are expected later this year - despite John Deere raking in over $10 billion in profit in 2023 while also paying CEO John May $26.7 million in total compensation.
A longtime John Deere worker at the Harvester Works plant in East Moline, Illinois, told The Guardian it comes down to one thing: Greed.
'We get wind of more layoffs daily, it seems, and it's causing uncertainty all over,' said the worker, who stayed anonymous for fear of retaliation.
'The only reason for Deere to do this is greed.'
(Excerpt) Read more at dailymail.co.uk ...
They’re unionized?
Did someone force Juan Deere to go union? I know companies that reorganized or just flat out closed their businesses before they’d ever go union.
Doesn’t matter the reason. A tariff gets “managements” mind right.
A nice big fat import tariff would ruin all of your gloBULList shenanigans.
Sooo... I’m thinking that Trump would be putting tariffs on every single product that John Deere tries to expert to America then. John Deere is really gonna be hurt if that happens. Good action. Couldn’t happen to a more deserving turncoat ‘former American’ company.
Bingo!
expert?
meant to say export.
duh
“The executives earn every single penny of their 26 million dollar compensation packages.”
The $26 million not only represents a year’s pay but a remaining lifetime’s worth of income risk.
Carly Fiorina & “Chainsaw” Al types can often run into a knotty problem that causes them to be bucked into retirement.
Consider the decline of General Electric, which was in the mortgage insurance business as I recollect.
The business environment is a lot tougher than it was in the 1960s.
Uber and Lyft are having to shell out $175 to Massachusetts.
AirBnB has seen its NYC listings slashed.
Uber as I recollect was barred from London.
Non traitors?
I would hate for teams of patriots to blow up the railroad bridges between the US and Mexico on a daily basis. That would be terrible. Just terrible.
A tariff would have prevented that plant form shutting down.
I hope Trump bulldozes Juan Deere.
Fixed it.
“Doesn’t matter the reason. A tariff gets “managements” mind right.”
Some of us don’t want to pay TRIPLE (or whatever) for our necessities just to make a bunch spoiled brat assembly line workers rich.
...but no one stops you from doing that.
John Deere made $30B in profit last year.
Most of the regular posters on Free Republic are radical gloBULLists. Sad, out of touch Anti MAGA types.
“We need tariffs now!!!!”
I will repeat:
An item once imported for $1 and sold for $5 with a 25% tariff can be equally profitably sold at $5.25. The Wall Street elite knows this. Trump and you should know that too.
Tariffs won’t stop the flow of goods made by people getting a fourth of American wages and salaries.
The US needs to go to a blocked currency like India has.
Survival....
Deere gross profit for the twelve months ending April 30, 2024 was $23.224B, a 9.09% increase year-over-year. Deere annual gross profit for 2023 was $23.536B, a 36.53% increase from 2022.
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