Around 800 Deere employees accept voluntary buyouts

 

Deere & Co. expected savings of $50 million from the buyout of 800 of its employees. - Photo courtesy of John Deere

Equipment manufacturers are using whatever means necessary to try and stay afloat. More employees accepted Deere & Co.’s voluntary buyout offer than the equipment manufacturer had anticipated. About 800 employees accepted the voluntary separation package, which will cost Deere close to $100 million in pretax expenses but will still save about $75 million in the first year. The company had expected savings of $50 million from the buyout.