In the wake of layoffs at John Deere, economics expert weighs in on state of agri-business

An economic professor at Iowa State University said low commodity prices and rising interest rates are contributing to lower sales at John Deere.
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[@jimb.2994]

Over-priced equipment and over-paid CEO. What could possible go wrong?

[@barrythomas529]

Going woke is never a good idea.

[@matthewm9261]

Overpaid union employees?

[@rexrice4496]

What else could go wrong - well they just sponsored a multi -million dollar golf tournament last weekend. F*** John Deere.

[@rayray8687]

Wait, didn’t the expert economist say it’s due to low commodity prices? I wonder where he shops?

[@tomfilipiak3511]

Over paid high echelon morons! Unions,are here because of severe abuse by companies,and that is the only recourse,read the Jungle,by Upton Sinclair,that is why there are unions!Like it or not,they secure the middle clas!

[@ezone913]

Could it be that John Deere has been screwing over their customers for years, and now the farmer has much better options.

[@markflierl1624]

What are the better options? I'm not a farmer.

[@annoyedok321]

You'll see a lot of John Deere fanboys pulling blue Kinze planters because they got pissed off at the complexity of newer John Deere planters. K.I.S.S is still praised among farmers who actually work on their equipment.

[@olroy61]

Laying people off yet still sponsoring a PGA tournament. What's that cost them?

[@tristenklein5940]

The PGA has nothing to do with John Deere. This is all funded by the PGA tour! You got where you voted for so vote for Joey bag of donuts again if you want it to continue!

[@winkdinkerson7190]

Don’t neglect to mention five years of year-over-year product price increases. JD has price gouged its customers for years. You reap what you sow!

[@npet6842]

JD is expensive . I wonder how a new one can be funded with crop prices .....

[@BooBahh-uh5jk]

Back in 1980's and 1990's you could buy a red brand for 12000 or less than a John Deere. Price gouging not a surprise.

[@johnsalcido5436]

It's my fellow farmers that are keeping JD in business. As a farmer myself farming in 3 states, I do not own any JD tractors or any kind of major equipment from them, just a handful of diesel equipment and implements from decades ago when they are actually more affordable and better quality. I'm sickened on how not just JD but other companies too have evolved against not just their own farmers but also the bottom of the line people and folks working for them. Sick on how greed can affect the innocent hard working folks. Just stop buying JD stuff and I promise you they will change their style real fast.

[@timothymilhomme5249]

I heard the most effective way to do the least and actually do something is vote with your money

[@ekeller88]

A new 250HP 8R is over a half million. Who is going to buy these at a rate fast enough to keep a factory open?

[@kyleloew1100]

$3 corn you can’t afford anything. Grain prices are the same that they were 20 years ago let that sink in.

[@dmk1529]

Your a little behind on your numbers. Buy a new newspaper!

[@treelady6184]

@@dmk1529 take a load of corn to the elevator and you will soon find out the newspaper is wrong. I know what I get for it, the newspapers do not.

[@charliehargrave7458]

Cut CEO pay 100 percent and keep the workers.

[@tristenklein5940]

You got what you’re voted for vote for Joey bag of donuts again if you wanna see it continue!

[@tomdooley8917]

​@@tristenklein5940derp,life awaits you , learn to read .

[@seriejohnson698]

@@tristenklein5940You sound ignorant asf. Go wipe Trumps’s sh!t off your lips, @ss kissing Jethro.

[@seriejohnson698]

@@tristenklein5940Grredy f*cking company made billions. Trump said he likes his people (you) dumb. Congratulations, Trump would be proud of your dumb @ss…oh, wait he doesn’t even like poor people. He finds you disgusting.

[@dmk1529]

Vote Blue 🔵

[@randylagasse7767]

It’s not that there not making money, it’s that they wanna make more!

[@seriejohnson698]

Bingo.

[@dmk1529]

What's wrong with that?

[@tomrogers9467]

When a company builds equipment they won’t allow the owners to repair, customers buy elsewhere! JD deserves to go under!

[@jamesmcclanahan4091]

Farm equipment is just too damn high

[@dannypowers4995]

Union wages and Union benefits.

[@Mr50403]

​@@dannypowers49957 Billion dollar in profits? Who is losing? I get it your a Republican. You don't like unions. But c'mon, 7 billion in profits. That Greed.

[@henrivanbemmel]

​@@dannypowers4995Yes ... let's return to working our people 12h a day 6 days a week for nothing with no safety. The whole thing hangs on international wheeler-dealers who game the communities market. However, let's just blame the workers, it's easier.

[@GreggWalken-xd3qv]

​@@henrivanbemmelObviously is in this case. What was one of the reasons moving to Mexico

[@henrivanbemmel]

@@GreggWalken-xd3qv Which should not be permitted. Nowhere near the same costs of living regulation all the rest. Outsourcing is not free trade it's treason IMHO. If the stuff is sold here, I think it should be made here. Even non-union minimum wage unskilled labour would lose out to out sourcing. Companies like JD were making money in the US, they just make more in Mexico. However, it just came to mind that on a few channels I've watched they say JD makes its combines in East Moline, IL if I remember correctly (my phone won't let me switch pages when writing comments ...)

[@michaelmonthey5974]

John Deere has been less kind to their customers in recent years. They have consistently stood against the right to repair movement in an effort to push sales of brand new equipment, which most farmers can’t afford.

[@imaslob6168]

Boycott John Deere!!!!

[@jeffharper7579]

My exact thought👍.

[@NoneNone-ik6pb]

When you think you're invincible because your largest shareholder is bill gates

[@sawmanbigtreeslayer2360]

Can you prove that?

[@EelcoM-cq7pr]

Indeed...... The whole world should boycott companies where Bill Gates is involved.........

[@dougchapman2679]

Grew up in a farming family that also owned a JD dealership. Have seen personally the way they have fuc*ed the small dealer trying to make a living. Two store fronts wasn’t enough. Build one here-build one there…now 10 locations isn’t enough

[@parchechuletaovero9507]

It is becoming a monster not a company

[@parchechuletaovero9507]

Here in Argentina,only big network dealerships are allowed to stay green.

[@jeremytegland6663]

Spent too much $$ on DEI & rainbow cult initiatives.

[@frankgrabasse4642]

They made the ultimate dei investment. They moved to Mexico

[@frankgrabasse4642]

Small farm bankruptcies skyrocket under trump. The trade war he started caused a sharp decline in Agriculture exports..... he also withdrew protections for small beef and pork producers. This greatly helped big business in contract negotiations. Then the 25% tariff. Move production to mexico. Import all you want. No tariff. Cheap labor. Send the product to the US. No tariff bringing that into the US. Thanks nafta. And trump even lied and said he renegotiated it! Trump helped more jobs to move to Mexico....

[@louskunt9798]

Exactly! Woke always goes broke!

[@andreward8268]

​@@frankgrabasse4642 and that's not DEI - that's corporate greed to increase profit (for the top executives)

[@rosaoddin4338]

@@andreward8268 AMEN - that is 100% accurate, the heck with what that relocation does to our country’s economy, stability and that of the USA working class. Top brass at DE are only concerned with increasing their personal aggrandizement.

[@BecauseWhyNot660]

JD has always been overpriced. But, they just shot themselves in the foot with their D.E.I. initiatives. I know a lot of farmers that are putting their green up for sale as of today due to their D.E.I.

[@frankgrabasse4642]

Small farm bankruptcies skyrocket under trump. The trade war he started caused a sharp decline in Agriculture exports..... he also withdrew protections for small beef and pork producers. This greatly helped big business in contract negotiations. Then the 25% tariff. Move production to mexico. Import all you want. No tariff. Cheap labor. Send the product to the US. No tariff bringing that into the US. Thanks nafta. And trump even lied and said he renegotiated it! Trump helped more jobs to move to Mexico....

[@battles423]

You racist love saying DEI . Most of you racist don’t even know what it means 😂

[@donaldcralton34]

@@battles423 usually the one screaming raciest, is the raciest! there should be no policies made for one group of Americans over another period!

[@mattstarr8203]

record pay for management

[@tristenklein5940]

Do you have the education and the responsibilities of management? of course not so you get paid what you’re worth you are an expendable asset and this is all about the economy and the regime in the White House that is destroying it! so you got what you voted for so vote again for Joey bag of donuts if you want it to continue and become a slave to the state!

[@timdrain4027]

Over priced. Not many pickups being sold either.

[@furryfurnace9601]

27 percent drop and everyone we deal with in agri- business want 10-15 percent increase! How can Agriculture continue when this is happening?

[@tomdooley8917]

Agricultural is subsidized by the gubrrment , welfare for the rich .

[@seewoodygaming3088]

7 billion dollars in profit in a SINGLE year..... and it's not enough..... this country needs a damned reset

[@danw6014]

Be careful what you wish for.

[@Scorpio1060-]

⁠@@danw6014 I agree, people thought working from home would be terrific. What happened is skyrocketing home prices and restaurants and shop’s closing.

[@henrivanbemmel]

It's called capitalism. Make as much as you can while reducing your costs.

[@aaron___6014]

Good thing we have two ancient presidents and a corrupt government helping.

[@GreggWalken-xd3qv]

Don't believe that's all profit. How much of that was paid to the investors?

[@tommybreen9677]

Did they just say at the end their profits will still be 7 Billion? Wtf

[@StevenCollar]

Boycott Woke John Deer

[@lindo110]

go to bed, dad.

[@relevation0]

Are you a they/them? ​@@lindo110

[@arthurtomczak8474]

Moving to Mexico doesn’t happen to help .

[@mullic]

They had increased stock price because the CEO took money back and bought stock to increase the value and impress investors…… they are in serious trouble. JD will do what IH did in the 80’s.

[@js-wq6zy]

No doubt looking for huge government handouts....again

[@dmk1529]

When was that?

[@chuckholt5375]

Every Biden voter needs to see this. “Oh he’s done a great job as president!“ (sarcasm)

[@GeraldHanks-qo1qc]

What else would you expect from a Communist

[@glennso47]

Same thing for every voter for the local representative who is a Democrat. (Sorensen )

[@derekgilbert2884]

It sad made over $61 Billion dollars revenue 2023 but company bought stocks back$15 Billion dollars and over pay ceo last 2023 revenue who get layoffs workers image that.

[@tomd7861]

This is very concerning...just like '08...the second half is gonna get rough. Stellantis is gonna be cutting too.

[@gregorymalchuk272]

They build unrepairable tractors and charge dealer fees for diagnosis software and serialized parts activation. People are really getting disgusted with it.

[@relevation0]

No John Deere just like no Disney, Bud Light, etc

[@polymerx2218]

They didn’t eliminate those positions they went to MX.

[@renebeussen3374]

They lost it completely . Poor R&D . The German made Fendt took over. You see them more working fields everywhere

[@ricksanchez7459]

Heard a guy at the stockyard complaining they remotely disabled his tractor for missing a payment.

[@dmk1529]

Not true

[@ericeven4090]

It's true if he missed more than one. Dealerships have remotely disabled tractors when they are due for repossession under the guise of protecting the equipment. They also use the trackers built into them to locate and collect them. It's not an all together awful practice since the dealer has the right to repo if you don't pay but it does happen. Quite frequently too.

[@toddwatkins1036]

They turned 10million profit last year how much more you need u can't afford jd. They're to greedy

[@farmerthatflies]

Ten billion with a B

[@donaldcralton34]

@@farmerthatflies ten billion with a B, could not fill their Greed with a G!

[@waltonstarling5060]

I just bought a new Kubota. JD 5075E was $5000 more for a tractor made in India.

[@tomdooley8917]

What's wrong with India ?

[@npet6842]

Yes , really cheap labour countries , but the price to us doesn't reflect that . Cars and SUV are the same situation too .

[@parchechuletaovero9507]

Sorry to ask, but wich kubota did you buy and for how much?

[@waltonstarling5060]

@@parchechuletaovero9507 I bought an open station M7060w/ loader and 12 speed and heavier wheels. Open station with ballast in tires and a 2nd remote. Almost exactly$50k exactly. JD 5075 E was going to be @5000 more with no add options.

[@deerepasture]

And now on top of this we find out John Deere is Wokie and farmers aren’t Wokie. Check out what happened at Tractor Supply

[@cunninghamfarm3792]

Our last 5 new mid-sized tractors, red and green, have been made in Europe.

[@leinster22]

Well Jeeps are made in Italy now, Levi’s made in Vietnam

[@renebeussen3374]

You mean Fendt ? There color is green and red but distinguish different from JD. Their transmission runs very smooth and efficient.

[@cunninghamfarm3792]

@renebeussen3374 Case IH and John Deere. There are some of the biggest Fendts made in Jackson MN. I think the under 175 to 200 hp are European.

[@georgecass8529]

Time to take away there taxcuts they received .

[@_ac_7649]

hope they go under

[@davek9378]

The ‘government’ will just take our tax dollars and bail them out...politicians looking for political donations call it ‘too big to fail’.

[@CP-hz2dz]

You got high hopes

[@timlynch1074]

As a John Deere salesman back in the early 2000's, I made a suggestion to the company of 2 things they needed to change on new mocos that were being introduced. They basically shrugged their shoulders and the following model year both of my suggestions were on the production models. I never got a thing for it, not even a "THANK YOU" !!!!

[@henrivanbemmel]

Which is very common in most organizations ...

[@dmk1529]

Are your feelings hurt?

[@dmk1529]

Are your feelings hurt?

[@RJ1999x]

Dear would screw anyone over, they screwed dealers over for years, which told me they could care less about their customers

[@ricksmith4736]

You got a paycheck...

[@bufferbridge]

Deere being the market leader worldwide thought they had it made,the price rise of their equipment & astronomical cost of spare parts over the last 10 years,compared to other manufacturers is something else,or at least it is here in the UK. No wonder European manufacturers are making such inroads into the North American market

[@Alex-sj5ok]

If John Deere moves to Mexico those combines better be selling for 300k at the highest now

[@farmerthatflies]

The price won’t go down. Their profits will go up tho

[@dmk1529]

The combines will still be made here. Pay attention

[@Allaiya.]

I’ve heard of companies expanding into Mexico. But not just laying off and relocating. Wow 😡

[@scottrayhons2537]

I'm going to buy a disc mower but it sure as hell won't be a John Deere. All done buying Deere parts

[@generationll]

Where is Deere getting the billions for their stock buy back program?Deere has already introduced some very big ticket items like 4 new S7 combines & 3 new 9RX tractors that range from 710-830hp that cost over 1 million dollars

[@baynebrown8914]

Only industry that has no control over revenue. Farming, that is.

[@TroyHanson-ch6nm]

The brand carries lots of hype but don't perform like the greenhorns claim. As a mechanic i wont even buy this brand i service all my own an will not buy any green

[@dixonpinfold2582]

There are multiple factors, but one is obvious to me: Customers are postponing purchases to wait for widely-expected lower financing rates. They should fall a little even before year-end.

[@MarginalFarming]

I don't buy plant and equip that require a tech to be flown in to replace a motherboard..

[@18winsagin]

They recently purchased the Wirtgen group. A german equipment manufacturer of paving , crushing, and milling equipment.

[@alfredfleming3289]

They don’t mention how much their bloody machines cost to buy. Stop all the bells and whistles and go back to practical.

[@dannypowers4995]

Union demands will force all JD manufacturing to move to other countries.

[@Scorpio1060-]

I know right, I can’t tolerate people that expect to make a livable wage for their labor. They have some nerve.

[@dannypowers4995]

@Scorpio1060- exactly, I have always wonder why the Unions do not just buy the companies they work for and set their pay whatever they think they deserve. GM for example should just sell itself to UAW. The John Deere union should buy John Deere and take it private . Get all the profits and set their pay.

[@robwar2288]

Exactly!

[@Scorpio1060-]

@@dannypowers4995 Labor unions don’t work for companies and don’t buy companies. They represent workers. Any time a company is having problems, the fault lies with upper management. They are the ones running the business.

[@rd1084]

Let’s be real, unions are part of the problem, not the whole problem. Management that is only profit focused and a$$hat board members like bill gates are the other problem.

[@Mjet403]

Over priced equipment compared to previous years has the most to do with it like tell it like it is people

[@ericeven4090]

Around here everyone is doing whatever they can to keep the old jd equipment going. Whoever bought new stuff has regretted it and went back to old. Absolutely impossible for most to repair the new ones themselves. Price of old machines has skyrocketed as a result.

[@yougotmossed3592]

The agricultural economy has always been a highly cyclical business. I am surprised it had stayed quite strong for as long as it did. A downturn comes as no surprise at all.

[@mowerman60]

Deere by name,dear by nature. Ripping off farmers,who are struggling worldwide. Here in NZ you can buy a Fendt,cheaper than you can buy a popping jonny. I know which one i prefer !!!

[@KenPrill]

😂😂😂 Ha, Ha, John Deere fucked themselves !

[@JAT922]

2:14. Clip proves JD was laughing back. Notice the HA

[@keysautorepair6038]

John Deer moving to Mexico lol.

[@kingkobra1956]

Who did not see this coming? Every employer has a massive layoff after granting pay increases to offset the pinch to its bottom line.

[@saltwaterinmyveins]

It hurts my heart the beloved John Deere is declining.

[@jaygold4467]

Working hard at your job only to encounter "layoff". This throwing workers in the streets for profit must stop! This never use to happen. We need a large Layoff Tax. The CEO should be the first to go!

[@mrctzn4557]

Moving the manufacturing and assembly of John Deere products to Mexico doesn't help sales, it's not the down year, it's the stupidity of the company.

[@erickellogg505]

They've just been green yanmars for years.

[@Raisinsaredumb]

I’m just a dumb farmer I could see the writing on the wall a few yrs ago smarten up boys or it’s going to a lot worse before it even thinks about get better

[@onehappyfarmer3461]

I guess equipment manufacturers don’t follow the grain markets. October corn starts with a 3 now. How many bushels of corn will it take to buy a $1,000,000 combine now?

[@madmanmechanic8847]

I just saw they are shutting the plants and moving the facilities to Mexico they said nothing about this

[@Ron-k8e7f]

why is a t-bone steak 17 dollars a pound

[@newtec-kd6vy]

Unless people in the supply chains. Consultants, advertising people

[@hcsgmail]

Because our government stopped going after monopolies. The farmer isn't the one who is making the money in beef.

[@jerryfischer3988]

Mine is $6 a pound raised in my backyard

[@Joemama-crzy]

Farm equipment you are not allowed to repair yourself , overpriced

[@bubbaray575]

Down 10% last year..... ...last year they had a $10,000,000,000 profit. That 10 billion in case your wondering. Profit, not sales but 10 billion in profit and they project 7 billion next year. So they're saying 17 billion profit over 730 days isn't enough. Well, something tells me their profit projections for next year are going to be surprisingly lower; I wonder why.

[@johnhinant970]

But the economy is doing great according to the Democrats.

[@donaldcralton34]

you mean dummo-rats!

[@dalerector8491]

Tractors that don't need a farmer ,were made possible by farmers! All equipment will be that way soon enough. You can't stop it ,

[@hcsgmail]

Wait until autonomous tractors kill people on the road or changing implements.

[@korn111685]

The CEO should buy a farm, pay retail for JD equipment and try to turn a profit. Eyes wide open.

[@04tsxpower]

Yet doesn’t affect the price of equipment

[@gabrielrodriguez821]

But I thought the "Union" would protect those jobs 🙄

[@bigredd5171]

Then why is beef so expensive? 🤔

[@sarahmccomisky4330]

The mechines are ro expensive, rhe crops don't pay, fertilizer high cost. I bet the CEO made millions. And company profits were high to. They are making a move over overseas. To make more profits.

[@MinnesotaBeekeeper]

On top of it we just found out that Deere has gone fully woke with DEI. Apparently WQAD refuses to discuss that crap! Since 2 years old, I grew up on tractors and I'm done with that company. Deere made 100 last year, John C. May is the CEO. Boycott.

[@Veganisbadhunter-wx5nt]

It's not John Deere.... it's Juan Deere.

[@leinster22]

Maybe move the White House to Mexico and call it Blanco Villa

[@daviddruggish271]

Greed is destroying America.

[@jeremyrude6883]

But didn't 81 million ppl vote for this? 😂😂😂

[@leinster22]

You need determine how many were dead and buried when they voted

[@leinster22]

As John Mellencamp sang “ Ain’t that America “

[@MM-rr1kp]

well at least they locked owners and private shops out of srrvicing their gear

[@jeffreywhite7657]

JD parts only on JD equipment....way high prices for their equipment too.

[@daleolson3506]

Check out their profits.

[@peter2liter]

From now on I'm calling the company Juan Deere.

[@ImmaTwoPops]

I’ll never consider a J D product now

[@johnash9588]

Maybe they shouldn’t spend so much money on sponsorship for a golf tournament

[@KDrapsag]

JD going WOKE the straw that broke the camels back!

[@NunYa953]

John Deere is why John Deere is struggling. They turned their back on the people that pay their bills.

[@Smooththatsme]

Is this part of the "build back better" idea Joe Biden was talking about when he was running for president in 2020?

[@kevinroberts8441]

Slim margins and high interest rates makes it so you can't afford new equipment simple

[@pahanin2480]

They are outsourcing to Mexico.

[@dennisbethards3231]

They will all be laid off or move to Mexico with their jobs

[@Taxpayeroftherepublic]

According to Joe the economy is GREAT! Wounded if any of his policies have contributed to the layoffs…..

[@eddiekulp1241]

Just move every good paying union job to other countries . That will help economy

[@TheWebstaff]

Nope but it will help JD shareholders and management.

[@justing6594]

Nice try bootlicker! These companies profit billions off the backs of hard working people!

[@lynnschantz9185]

Wow maybe just maybe it’s the DEI policy that has been incorporated into the business. Yea go ahead and blame it on the crop prices. Wake up

[@dadgarage7966]

Government bail-out money would be a smart way moving forward, making the invisible market hand move the way John Deer prefers.

[@cashcow4383]

Boats and RVS are next

[@davedavey250]

Interesting how the money they're paying. The farmers for their grain is going down but the price. The food in the store is going up.. Who do you think is making all that extra money

[@dad8159]

John Deere has fallen from poor mgmt and the woke movement. RIP.