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John Deere announces layoffs at multiple facilites.

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Showtime586

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www.newsweek.com

John Deere announces hundreds of layoffs

The company said ongoing weakness in the agricultural sector had led to softer sales and made the layoffs necessary.
www.newsweek.com www.newsweek.com

(There has now been a 4th facility added to the list.)

I guess the laid off Trump supporters can discuss "wokism" (whatever that is), owning the "Libs", how horrible "socialism" is and all of the Trump "winning" while they are standing in line at the unemployment and food stamp offices.
At this point, I have no sympathy for these dumbasses. They willingly boarded the Titanic for the SECOND time and are now paying the price. I do feel sorry for decent laid off workers and ALL impacted children (regardless of their parents voting short-sidedness and stupidity). As with all Trump ineptness, there's always collateral damage.
 
You need to highlight the fact that tariffs play a big role in this.

On Friday, the company released its third-quarter results, which showed a 26 percent year-over-year drop
in net income to $1.3 billion and a 9 percent decline in net sales and revenues to $12 billion. In a
subsequent earnings call, the company attributed many of these difficulties to lower commodity prices
and the effects of tariffs.

"Tariff costs in the quarter were approximately $200 million, which brings us to roughly $300 million in
tariff expense year to date based on tariff rates in effect as of today," said Director of Investor Relations
Josh Beale.
Click to expand...
 
The tariff war is having a big impact on farmers who source equipment from both Canada and the US.

A combine can cost a million bucks. Tariffs on top of that are something that will certainly give a farmer pause.

Canada makes the world's best seeder, exported mostly to US farmers. They simply can't afford it now and parts for existing machines are tariffed.
 
Showtime586 said:
www.newsweek.com

John Deere announces hundreds of layoffs

The company said ongoing weakness in the agricultural sector had led to softer sales and made the layoffs necessary.
www.newsweek.com www.newsweek.com

(There has now been a 4th facility added to the list.)

I guess the laid off Trump supporters can discuss "wokism" (whatever that is), owning the "Libs", how horrible "socialism" is and all of the Trump "winning" while they are standing in line at the unemployment and food stamp offices.
At this point, I have no sympathy for these dumbasses. They willingly boarded the Titanic for the SECOND time and are now paying the price. I do feel sorry for decent laid off workers and ALL impacted children (regardless of their parents voting short-sidedness and stupidity). As with all Trump ineptness, there's always collateral damage.
Click to expand...
And complain about why it's so much harder to qualify for the government assistance.

Thanks Donnie-Two-Dolls !
 
John Deere is dependent on the world to buy its equipment, and with Donald’s trade wars they were destined to be one of the losers. That’s tough but, well, America voted for this and elections have consequences.
 
Showtime586 said:
www.newsweek.com

John Deere announces hundreds of layoffs

The company said ongoing weakness in the agricultural sector had led to softer sales and made the layoffs necessary.
www.newsweek.com www.newsweek.com

(There has now been a 4th facility added to the list.)

I guess the laid off Trump supporters can discuss "wokism" (whatever that is), owning the "Libs", how horrible "socialism" is and all of the Trump "winning" while they are standing in line at the unemployment and food stamp offices.
At this point, I have no sympathy for these dumbasses. They willingly boarded the Titanic for the SECOND time and are now paying the price. I do feel sorry for decent laid off workers and ALL impacted children (regardless of their parents voting short-sidedness and stupidity). As with all Trump ineptness, there's always collateral damage.
Click to expand...
They're probably increasing production in offshore facilities to get around the tariffs and stay competitive in other countries.
MAGA!
 
phoenix2020 said:
John Deere is dependent on the world to buy its equipment, and with Donald’s trade wars they were destined to be one of the losers. That’s tough but, well, America voted for this and elections have consequences.
Click to expand...
They'll increase production offshore where they don't pay tariffs on raw materials.
 
Grand Mal said:
They're probably increasing production in offshore facilities to get around the tariffs and stay competitive in other countries.
MAGA!
Click to expand...
One pitfall to doing this is that if they try to circumvent tariffs by importing to a 3rd country to avoid tariffs the two tariffs are added together and there's the threat of criminal charges.

So John Deere makes a combine in India (50% tariffs) and imports it via Canada (35% tariffs).

The tariff becomes 85%. Farming is such a high margin business I'm sure they'll be fine paying $850k extra for their new combine. 🙄
 
Showtime586 said:
www.newsweek.com

John Deere announces hundreds of layoffs

The company said ongoing weakness in the agricultural sector had led to softer sales and made the layoffs necessary.
www.newsweek.com www.newsweek.com

(There has now been a 4th facility added to the list.)

I guess the laid off Trump supporters can discuss "wokism" (whatever that is), owning the "Libs", how horrible "socialism" is and all of the Trump "winning" while they are standing in line at the unemployment and food stamp offices.
At this point, I have no sympathy for these dumbasses. They willingly boarded the Titanic for the SECOND time and are now paying the price. I do feel sorry for decent laid off workers and ALL impacted children (regardless of their parents voting short-sidedness and stupidity). As with all Trump ineptness, there's always collateral damage.
Click to expand...
This is the trump administration bringing back manufacturing.
 
Allan said:
One pitfall to doing this is that if they try to circumvent tariffs by importing to a 3rd country to avoid tariffs the two tariffs are added together and there's the threat of criminal charges.

So John Deere makes a combine in India (50% tariffs) and imports it via Canada (35% tariffs).

The tariff becomes 85%. Farming is such a high margin business I'm sure they'll be fine paying $850k extra for their new combine. 🙄
Click to expand...
Why would a combine made in India and sold to Canada be subject to US tariffs?
 
Allan said:
Sold to the US via Canada, to reduce tariffs from 50% to 35%.
Click to expand...
Ah, I misunderstood your post. Yeah that would run afoul of the rules. The only thing John Deere can do is move production out of the USA and focus on non-USA sites serving non-USA customers.
 
phoenix2020 said:
John Deere is dependent on the world to buy its equipment, and with Donald’s trade wars they were destined to be one of the losers. That’s tough but, well, America voted for this and elections have consequences.
Click to expand...
I somewhat disagree. People did vote for it, but they had no idea what would happen. Taking Trump's word for it is a hard lesson for many.
 
Allan said:
One pitfall to doing this is that if they try to circumvent tariffs by importing to a 3rd country to avoid tariffs the two tariffs are added together and there's the threat of criminal charges.

So John Deere makes a combine in India (50% tariffs) and imports it via Canada (35% tariffs).

The tariff becomes 85%. Farming is such a high margin business I'm sure they'll be fine paying $850k extra for their new combine. 🙄
Click to expand...
Yeah, but if they make the combine in India and sell it in Australia they stay competitive in the Australian market.
I venture to guess that a fair amount of John Deere s market is in other countries. Canada, for one.
 
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