Deere Announces More Layoffs in Iowa, Illinois During Farm Slump

Deere & Co. is laying off an additional nearly 300 people in Iowa and Illinois as demand for farm equipment slows from the peak production of recent years. It’s the latest round of layoffs this year for the world’s top agricultural machinery maker, after it slashed its annual earnings outlook in May. An expansion in crop supplies this year has pressured grain prices, leaving farmers with less to spend on new gear.