Reported 12 months ago
The US agricultural tractor giant 'John Deere,' with a history of over 100 years, confirmed a layoff plan to address rising operating costs and declining market demand. The company will lay off 610 employees, relocate specific factories to Mexico for lower labor costs, and provide up to 26 weeks of unemployment subsidy benefits based on seniority. This marks the second large-scale layoff after laying off 225 employees last October, causing unrest among employees despite providing generous unemployment benefits and health insurance.
Source: YAHOO