John Deere layoffs surge: over 2,000 jobs cut in 2024 amid declining demand

Since 2015, John Deere has laid off more than 4,500 workers, including 2,176 in 2024 alone, with an additional 267 layoffs expected in early 2025, hitting Iowa towns like Waterloo, Davenport, and Ottumwa especially hard. The company blames waning farm equipment demand for the more recent layoffs, as crop prices for corn, soybeans, and wheat have dropped sharply since 2022. Despite this, CEO John May earned $26.7 million in 2023, and Deere is still planning to move some Iowa production to Mexico by 2026, a move it says isn’t tied to the layoffs. The 2025 layoffs were listed in Iowa's WARN database.
Chart: Jennifer Bamberg, Investigate MidwestSource: WARN Layoff DataCreated with Datawrapper