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Fury as one of America's oldest companies slashes jobs in the Midwest as it shifts work to Mexico: 'It's greed'
UK Daily Mail ^ | 06/29/2024 | JAMES CIRRONE

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 ...


TOPICS: Business/Economy; Front Page News; Government; Politics/Elections
KEYWORDS: giantsuckingsound; iowa; johndeere; manufacturing; tractor
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To: Brian Griffin

Dear Brain. 25% of one dollar is 25 cents. You are math challenged.

81 posted on 06/29/2024 11:07:05 AM PDT by central_va (I won't be reconstructed and I do not give a damn...)
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To: cgbg

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.


82 posted on 06/29/2024 11:07:39 AM PDT by central_va (I won't be reconstructed and I do not give a damn...)
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To: alternatives?

I hope Trump calls for a boycott of John Deere products.


83 posted on 06/29/2024 11:08:07 AM PDT by central_va (I won't be reconstructed and I do not give a damn...)
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To: mewzilla

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.


84 posted on 06/29/2024 11:08:34 AM PDT by central_va (I won't be reconstructed and I do not give a damn...)
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To: ladyjane

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.


85 posted on 06/29/2024 11:09:23 AM PDT by central_va (I won't be reconstructed and I do not give a damn...)
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To: central_va

Good facts and points.


86 posted on 06/29/2024 11:10:18 AM PDT by piytar
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To: BobL
A 20% import tariffs increases the retail price by 20%. Your head is f'd up. You need help.

GloBULLism is a radical concept that only old coot types stuck thr 20th century still think is a good idea.

87 posted on 06/29/2024 11:12:59 AM PDT by central_va (I won't be reconstructed and I do not give a damn...)
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To: central_va
I hope Trump calls for a boycott of John Deere products.

I hope to hear for Trump regarding this soon.

88 posted on 06/29/2024 11:15:31 AM PDT by dragnet2 (Diversion and evasion are tools of deceit)
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To: central_va

The relevant issue for shareholders is return on equity.

In the real world the shareholders are where the “greed” is.


89 posted on 06/29/2024 11:16:06 AM PDT by cgbg ("Our democracy" = Their Kleptocracy)
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To: piytar
I guess the point of capitalism is to squeeze at much labor out of the citizenry as possible for the cheapest rate possible to maximize profits of an ALREADY profitable enterprise. They do this to increase the dividend paid international stock holders.

Capitalism always manages to kill itself.

90 posted on 06/29/2024 11:16:47 AM PDT by central_va (I won't be reconstructed and I do not give a damn...)
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To: central_va

#33

“...Peoria’s top businesses are all hospitals and healthcare...”

Retail and restaurant businesses that have folded can’t support the medical-industrial complexes.

The housing industry will probably stall as people will refuse to pay $400,000 for a house that might in a few years be an “affordable” $250,000 house.

People that vote Democrat because of their personal healthcare concerns need to vote for Trump to revive domestic manufacturing to help fund their highly subsidized healthcare.


91 posted on 06/29/2024 11:17:25 AM PDT by Brian Griffin
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To: Telepathic Intruder
NAFTA has been killing America ever since Clinton foisted it on us.

Don't blame it all on Clinton. Had Bush been in office, NAFTA would also have passed.

I recall Republicans enthusiastically cheering for NAFTA.

Republican enthusiasm for free trade was the main issue Perot challenged Bush on in 1992.

92 posted on 06/29/2024 11:19:01 AM PDT by Angelino97
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To: central_va

“Capitalism always manages to kill itself.”

Excessively greedy capitalists get replaced by less greedy capitalists in a market economy.


93 posted on 06/29/2024 11:19:31 AM PDT by Brian Griffin
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To: DFG

Hoe big is the “Union Made” banner in the break room?


94 posted on 06/29/2024 11:19:56 AM PDT by Organic Panic (Democrats. Memories as short as Joe Biden's eyes)
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To: Steve_Seattle

Now they can make new ads that show no white people at all and really get the DEI LGBTQWTF democrats happy..


95 posted on 06/29/2024 11:21:09 AM PDT by Organic Panic (Democrats. Memories as short as Joe Biden's eyes)
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To: Jim W N
Self interest is how we achieve, build, grow, and proposer. Self interest is from God.

There's a lot in the Bible about being concerned with the interests of people other than ourselves.

96 posted on 06/29/2024 11:21:12 AM PDT by Angelino97
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To: cgbg
Your post is spot on. However....A legitimate response of from our government to the traitorous off shoring of industry should be to protect US industry and jobs. They way to do that is with import tariffs. Free markets and capitalism INSIDE the USA is good. Globalism is bad - get it Free Traitors™? Or are you going to have to go to the gallows before you see the light?
97 posted on 06/29/2024 11:21:24 AM PDT by central_va (I won't be reconstructed and I do not give a damn...)
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To: Angelino97
Rush Limbaugh ws a huge Free Traitor™. YES HE WAS. ADMIT IT TO YOURSELF.
98 posted on 06/29/2024 11:22:49 AM PDT by central_va (I won't be reconstructed and I do not give a damn...)
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To: central_va

I have no problems with tariffs if the wackadoodle domestic regulations on the industry—including DEI garbage—is eliminated.

Consumers should not be penalized by insane government regulations.


99 posted on 06/29/2024 11:24:27 AM PDT by cgbg ("Our democracy" = Their Kleptocracy)
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To: Angelino97
Angelino,

This was not directed to you but the the FR Free Traitor™ army

Rush Limbaugh ws a huge Free Traitor™. YES HE WAS. ADMIT IT TO YOURSELVES.

100 posted on 06/29/2024 11:25:09 AM PDT by central_va (I won't be reconstructed and I do not give a damn...)
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