John Deere Announces Hundreds of Layoffs

 Newsweek -  Legacy tractor maker John Deere has announced layoffs at three Midwestern facilities as the company grapples with declining sales and the effects of tariffs on its bottom line.  "The struggling ag economy continues to impact orders for John Deere equipment," the company said in a media statement regarding the layoffs. "This is a challenging time for many farmers, growers and producers, and directly impacts our business in the near term."

While the full implications of tariffs on the U.S. economy are still being established by economists and lawmakers, representatives of the agricultural sector have warned that the new duties could increase their costs and threaten footholds in key export markets. As John Deere, whose products are primarily aimed at farmers, said in its announcement, difficulties in the agricultural sector will continue to ripple through its operations and finances.