UPDATE 2-Deere to lay off 163 U.S. workers as trade war dents equipment demand

UPDATE 2-Deere to lay off 163 U.S. workers as trade war dents equipment demandDeere & Co on Tuesday announced indefinite layoffs for 163 U.S. manufacturing workers at plants in Illinois and Iowa that make agricultural, forestry and construction equipment, citing decreased customer demand. The layoffs come week after the company said it would reduce production by 20% at its facilities in Illinois and Iowa in the second of half of the year to keep inventory in line with retail demand. The world’s largest farm equipment maker is reeling from the fallout of the U.S.-China trade war that has slowed purchases from farmers.

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