Deere & Company is reporting its worldwide sales and revenue fell 30% during the last three months.
In a written statement, John May, Deere & Company’s CEO said the company’s customers are facing “uncertain market conditions,” but he’s “seeing compelling evidence: the company is “positioned to successfully navigate the current environment.”
Deere has reduced its workforce to slow production at plants in Iowa and elsewhere. Over the last quarter, Deere saw sales slippage for not only its farm machinery, but for John Deere lawn mowers and its equipment for the construction and forestry industries