July 6, 2009
Deere’s salaried workers in U.S. line up for buyout program
MOLINE, Illinois
Deere&Co. says about 800 salaried workers in the United States have decided to leave the world’s largest farm machinery maker under a voluntary separation program.
The number of workers taking the offer was about four times as many as the company expected when it announced the program in April and represents about three per cent of Deere’s overall salaried workforce.
The company expects to realize US$75 million in savings in the first year, after pretax expenses of about US$100 million recorded mostly in the fourth quarter. Previously, the company expected US$50 million in savings.
In April, the Moline, Ill.,-based company said it would combine its agricultural and commercial and consumer equipment divisions. The job cuts are intended to help the company reduce costs.
Associated Press
| MOST POPULAR STORIES |
- Government should be more flexible with stimulus project deadline, outgoing ORBA president says
- Prime site moves from contamination to condo in Cambridge, Ontario
- Mine tower largest steel project ever undertaken by Gorf Contracting
- Concrete from Giants Stadium demolition to be buried on site
- McGuinty: We can’t take our foot off ‘public dollar gas pedal’ too quickly
- 20 Most Popular Stories
| TODAY’S TOP CONSTRUCTION PROJECTS |
These projects have been selected from 350 projects with a total value of $6,260,468,758 that Reed Construction Data Building Reports reported on yesterday.
$98,000,000 Toronto ON Negotiated
CONDOMINIUM APARTMENT BUILDING
$89,000,000 Toronto ON Negotiated
$50,000,000 Toronto ON Negotiated
| CURRENT STORIES |
- Work continues on Pearl Condos in Toronto
- ‘A good first step forward,’ Canadian construction industry says of U.S. stimulus agreement
- Government should be more flexible with stimulus project deadline, outgoing ORBA president says
- Steel provides structure for historic hotel revival in Port Hope, Ontario
- Ontario businesses scramble to ready for arrival of HST
- Construction continues on Atira Women’s Resource Society housing project in Vancouver
- Five still unaccounted for after Connecticut power plant explosion
- U.S. manufacturing employment up, but construction losses continue
- Peterborough Utilities unveils plan for 10-megawatt wind farm
- China orders local governments to pay workers on private sites
- New deal allows Canadian construction firms to bid on U.S. stimulus projects
- Construction continues on Canadian Natural Resource office in St. Albert, Alberta
- Canadian Construction Association summit zeroes in on industry concerns
- Art Gallery of Alberta addition showcases steel
- 5,000-room modular lodging project taking shape near Fort McMurray, Alberta
- Five-year forecast looking up for British Columbia construction industry
- Saskatchewan gets new natural gas trades training centre
- B.C. permit numbers rise while Alberta’s fall
- Trades lack LEED understanding
- Nexen, OPTI Canada get approval for cogeneration power plant near Fort McMurray
- Aecon wins $22 million in contracts for steam generators
- SNC-Lavalin partners with Russian bank to form engineering company
| ALEX’S ECONOMICS BLOG |
Reed Construction Data Chief Economist Alex Carrick discusses current developments in the North American economic environment with emphasis on the construction industry.
- A review of some global economic and policy expectations for 2010 (February 3, 2010)
- Synopsis of RCD’s webinar on the economic and construction outlooks (January 28, 2010)
- Increasing signs of world and U.S. economies getting back on track (January 28, 2010)
- More
