) on Friday announced a review of costs after a combination of the U.S.-China trade war and bad weather dented its quarterly profits, forcing the company to trim its full-year earnings forecast for a second time in the past three months.
It will reduce production by 20% at its facilities in Illinois and Iowa in the second of half of the year. The cuts will impact the production of large tractors. The comments came after Deere’s production costs in the third-quarter shot up by 2 percentage points from a quarter ago. Yet despite its efforts, full-year production costs are projected to be above its previous estimates.
This is what happens when you allocate all your crucial manufacturing to a foreign nation.
They should run a commercial based on that gory scene in Madmen where a JD mower chops someone’s leg off. That should boost their sales.
Alot of farmers in Hampshire (UK), have switch from CLAAS_America to JohnDeere
Aka... lay-offs are coming...
And this is how a recession starts: Cut spending on overhead (people supplies durable goods) and retooling. Most companies will follow suit realDonaldTrump all beacause tariffs are paid by China NOT
'It will reduce production by 20% at its facilities in Illinois and Iowa in the second of half of the year. The cuts will impact the production of large tractors.' But Trump said winning trade wars was easy.
Good thing this trade war is only hurting China! Hey wait...is John Deere a Chinese company?
Deere getting cheaper?
China's doing a really good job at paying for those tariffs.
That's a euphemism for lay people off right?
More winning? Thinking not...
'Investors cheer cost cutting measures'...'reducing production by 20% in IL and IA'. Doesn't that mean it will need to reduce work-force? Where's this great economy
US market for heavy cannabis cultivation and combine equipment looking good though.
When are FARMERS going to learn they are 'Dirt diggers' to this idiot-in-chief and ALL he cares about are shareholders. He is just using working people and manipulating them with gibberish about fetuses and firearms. Let's just get it over with: WE TOLD YOU SO, AMERICA.
That green paints isn't worth the extra cost.
Ya we are doing great Donnie!!
China is paying though
Good. Imo, JD is highly over rated for the price . I've owned two. I threatened to shoot the last one.
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