07/17/2024
In 2022, John Deere filed for a recall of the D105 due to defects in the plastic transmissions that were installed. This covers all D105 models from 2016-2017.
On top of this, John Deere has started firing 1,000s of employees, via text no less. They claim poor sales on this decision, how ever their annual revenue has had steady growth since 2017. Such as 2017 Annual revenue was $29,738 (Billion), 2018 was $37,358 (Billion), 2019: $39,258, 2020 $35,540 2021: $44,024, 2022 : $52,577 2023: $61,251. 2023 Net Income was $10 billion. Reporting record growth (major stakeholder Blackrock and Vanguard).
On top of major layoffs this American company is moving to Ramos, Mexico.
Can we say corporate greed? From here out I would not recommend John Deere mowers. Not cool John Deere, not cool.
John Deere faces intense backlash as it lays off American workers and relocates agricultural equipment manufacturing to Mexico.