More than 100 salaried employees at John Deere, have lost their jobs, according to KWWL. 69 of the 103 workers let go by the company come from their Waterloo operation. Those that were let go were given a meeting notice around 8:15 Wednesday morning. In that meeting they were informed of their layoff and of their severance package. John Deere cited rising operational and manufacturing costs and reduced customer demand for the layoffs. They say they are committed to providing assistance and benefits to the salaried employees by offering up to one year of severance based on years of service, pro-rated short-term incentive and long-term incentive cash compensation benefits, payment for any earned and unused vacation or paid time off and other factors, access to ongoing health and wellness benefits and one year of professional job placement services. This is the latest in a number of layoffs by the company, just this year. The previous rounds affected non-salaried employees.
