More than 10,000 Deere employees went on strike last week at 14 Deere factories in Illinois, Iowa, Kansas, Colorado and Georgia after the United Auto Workers union rejected a contract offer. The longer the strike continues, the greater the impact will be on the communities around the plants.
More than 10,000 Deere & Co. workers went on strike Thursday, the first major walkout at the agricultural machinery giant in more than three decades.
Negotiators will return to the bargaining table Monday to try and work out a new deal to cover more than 10,000 workers at 14 plants across the United States. The union set a strike deadline of 11:59 p.m. Wednesday.
Deere & Co. cut its profit expectations for the second time this year as beleaguered farmers and an escalating trade war with China cut into sales.
Deere cut its profit and sales expectations for the year as a trade war between the U.S. and China escalates and farmers try to recover from a planting season besieged by heavy rains.
A boost in construction equipment sales drove profit higher for Deere & Co. in the fourth quarter, but the results fell short of Wall Street expectations.