It's not going to be a very good year for John Deer & Co., as the company is reportedly firing about 220 workers as a result of dwindling sales, according to CBS News. The layoffs will affect workers in its Seeding and Cylinder operation in Molaine, Ill., the company's hometown.
The company is expecting a sharp decline in agricultural machinery sales next year, according to the Chicago Business Journal.
The layoffs will begin Feb. 15, according to the Chicago Sun Times. These layoffs are not like past layoffs, and aren't expected to occur globally.
The company gave a statement, according to the Chicago Business Journal: "The layoffs reflect last week's forecast by Deere that agricultural machinery sales will decrease in fiscal year 2016. ... The actions are taken to align the size of the manufacturing workforce at individual factories with market demand for products made at each specific location."
Globally, John Deere & Co. employs more than 60,000 people. Of that number, 29,000 workers are located in the U.S. and Canada, according to CBS New. A downward trend has continued for the company, prices falling over the last three years and this quarter showing a 25 percent drop in sales.
