There have been multiple accounts created with the sole purpose of posting advertisement posts or replies containing unsolicited advertising.

Accounts which solely post advertisements, or persistently post them may be terminated.

StephniBefni ,

Why is the picture of pritzker? Is he laying people off?

Iloveyurianime ,

So putting drm in your tractors isnt giving you enough money so you fire hundred of employees? are there any chances that all or some of them suggested to remove your stupid drm that is affecting farmers all around the word?

bizzle ,
@bizzle@lemmy.world avatar

I’m one of those guys that’s getting laid off 😭

FlavoredButtHair ,
@FlavoredButtHair@lemmy.world avatar

Sorry to hear this nobody deserves to be laid off. I hope you have a lot of money stashed away.

Laying off employees should be illegal. Fuck greedy dirty executives and CEOs.

bizzle ,
@bizzle@lemmy.world avatar

It’s actually not that bad because I’m in the UAW. So contractually, Deere still pays me “subpay” for almost a year (way less, but it’s something) and I keep my health insurance for 6 months. I also get callback rights for 3 years and I’m one of the first like 50 guys to get called back. I heard from a guy that would get fired for saying so that we’ll be back about the first of the year, so I’m just pretending it’s a long vacation.

I feel really bad for some of my salaried friends, they have no protections. They don’t get subpay, they don’t keep their insurance, and they definitely don’t get callback rights. Those poor bastards don’t even know who’s getting canned yet.

Meanwhile Deere spent billions buying back stock and sending our jobs to fuckin Mexico. When we went on strike I said we should open negotiations by rolling the CEO’s severed head across the table. Everyone said “God damn Bizzle, you ever consider chilling?” but now look, they think they can do whatever they want. No accountability. Welcome to the “Land of the Free”, as long as you’re fabulously wealthy.

FlavoredButtHair ,
@FlavoredButtHair@lemmy.world avatar

Well hopefully people will buy from a different brand.

Sam_Bass ,

Blind greed is a deadly affliction for all but the afflicted

bradorsomething ,

Well of course, they’re not an employment company, they’re a money making company. The workers can go eat sand, and they’ll sell it to you, with no fear of the government doing anything.

circuitfarmer ,
@circuitfarmer@lemmy.sdf.org avatar

The need for year-over-year growth is ultimately strangling the system. At the moment it is easy to lay a bunch of people off and claim that growth. Eventually (at some point in the future), it won’t be mathematically possible unless the C-suite starts taking pay cuts, or they at least start eschewing their crazy bonuses. Expect them to milk that for good press (“These forward-thinking CEOs are dumping the bonuses for… insert any random bullshit here!”) or other such marketing nonsense.

Eventually, it will stop, when the system no longer functions at all. Infinite year-over-year growth across the board is an impossibility.

peetabix ,
@peetabix@lemmy.world avatar

I think we found out who ate all the pies.

PunnyName ,

It’s not inflation if companies are posting record profits.

11111one11111 ,

$10 billion might be record breaking but not the record breaking you are thinking of. 2017 was the last time they posted profits around $10 billion or less.

PunnyName ,

Sure. But they aren’t the only ones posting record profits in the past few years.

yeahiknow3 ,

If a company makes 10 billion dollars, they should be able to hire more people or pay everyone more. Instead that money is siphoned by unemployed bums who have absolutely nothing to do with the company - the “investors.”

If this system weren’t already in place, we would consider it completely comical.

11111one11111 ,

Except their profits need to also cover: Reinvestment in the Business: This includes spending on research and development, upgrading equipment, expanding operations, and improving infrastructure.

Debt Repayment: Reducing existing debt to strengthen the company’s financial position.

Dividends: Distributing a portion of profits to shareholders as dividends.

Share Buybacks: Purchasing the company’s own shares to reduce the number of outstanding shares and increase the value of remaining shares.

Employee Compensation: Providing bonuses, raises, benefits, and other non-salary incentives to employees.

Mergers and Acquisitions: Acquiring or merging with other companies to expand market reach and capabilities.

Savings and Reserves: Setting aside funds for future investments or as a buffer against economic downturns.

Corporate Social Responsibility (CSR): Investing in community projects, environmental sustainability, and other social initiatives.

Marketing and Advertising: Increasing brand awareness and market presence through marketing campaigns.

Technology Upgrades: Investing in new technologies to enhance efficiency and productivity.

To name a few.

piecat ,

Is that what they should do? Abso-fucking-lutely

But is that what any publicly traded company does??

11111one11111 ,

Did you even read the fucking article 🤣

interdimensionalmeme ,

Chatgpt detected

11111one11111 ,

100% I’m not fuckin typing that all out lol.

franklin , (edited )
@franklin@lemmy.world avatar

If anyone hasn’t watched the latest Wendover Productions video, I highly recommend it.

It covers John Deere’s transition into a technology company and details why they’re laying off a lot workers. Link

driving_crooner ,
@driving_crooner@lemmy.eco.br avatar

I think they’re going “fabless”, and focusing on the automation technology and leaving the manufacturing to third parties.

maynarkh ,

Wonder if you could leave the bs out and order directly from the suppliers.

These guys are planning on running a negative added value company.

greenskye ,

They’re selling the software that makes all the shit actually work. So you’d get a tractor with a bunch of processing power and have to program it yourself.

yeahiknow3 ,

I’m willing to bet we would get open source software that works way better in short order.

Likewise, if Microsoft stopped making Windows and everyone had to switch to something open source, the quality of personal computing would go through the roof.

greenskye ,

You’d need an organization to manage the satellite assets at least. That’s presumably the biggest barrier to overcome. They have a custom gps network specifically built for them

interdimensionalmeme ,

The US military handle gps, not john deere.

greenskye ,

Also, I think it’d just be smarter to nationalize the tech. Have the government bid out new advancements and maintenance, but the actual IP is owned by the government. It’s wild that we’re letting a single company control effectively 80% of our agriculture. Huge national security risk.

jaschen ,

Please ask Boeing how that plan is working out for them?

afraid_of_zombies ,

John Deer stock buybacks

  • April 30, 2024: $1.1 billion
  • January 31, 2024: $1.3 billion
  • October 31, 2023: $2.6 billion
  • July 31, 2023: $2.1 billion
  • April 30, 2023: $1.3 billion
  • January 31, 2023: $1.3 billion
  • October 31, 2022: $1.2 billion
  • July 31, 2022: $1.3 billion

<span style="color:#323232;">Total: $12.2 billion in 2 years.
</span>

ycharts.com/companies/DE/stock_buyback

darkmarx ,

I get why people are upset by the headline. It is written to provoke anger. Unfortunately, anger at the wrong issue.

I understand the argument that a large company can absorb the cost of workers they don’t currently. Though it’s unrealistic to expect them too.

I lived in the Quad Cities for a number of years. A large majority of people I know, both family and friends, worked for either Deere or Case IH - until they closed the plant in East Moline.

Layoffs are a yearly thing. Deere, Case, Caterpillar, they all hire a bunch of people in the beginning of the year and lay them off towards the end. It’s typically around August or September, and they announce it in July. Everyone in the Quad Cities knows it. It is expected. Sometime early next year, they are going to hire these jobs back. The people who take these jobs go into it knowing this is going to happen.

It can suck being let go and some people might struggle with it. Those who are used to this cycle treat it as a well-paying seasonal job. Many already have something else lined up. This is only a single, anecdotal, data point, so take it with a grain of salt… one of my uncles works for Deere and is a bus driver for one of the school districts. He knows Deere is going to let him go by fall so he has the driving job for the rest of the year. In spring, he will go back to Deere.

Perspective is also important. Deere has somewhere between 80k and 85k employees. They are laying off < 1000 based on this story. That’s the equivalent of a small, 80 person company hiring 1 person to get through the holiday season, then laying them off in January. Next year, they will do it again.

Headlines like this are nothing more than a distraction from real issues. For example, why does any company have multi-billions of dollars in profit to begin with? It just means they are charging more than they need to. The farmers who buy Deere equipment then have to charge more for their produce. Which means the stores have to charge more. Which means we pay more for our food. Deere’s profits are leading to higher food prices for everyone. To me, that is more of an issue than 1/80th of their workforce being in a hire/layoff cycle.

kandoh ,

Here’s the deal: these people aren’t being laid off because the company is losing money, they are being laid off because the company is not making as much money as it predicted it would last quarter.

Now, not making as much money as you thought while still being profitable is not a bad thing except for one person: the c-level executive.

The c-level has profit targets he needs to hit to unlock a huge bonus. Hundreds of thousands of dollars are at stake for him, that one individual.

So these hundreds of people aren’t losing their jobs so the company can thrive and be healthy. They’re losing their jobs so one person can make hundreds of thousands of dollars more on top of their existing salary which was always guaranteed to them.

chonglibloodsport ,

No, it’s also bad for shareholders. Shareholders need to see the numbers go up in order to get returns on their investment, either in the form of buybacks or dividends. A company that isn’t seen as worth investing in will show a decline in share price, causing shareholders to lose money.

explodicle ,

Would the investors not risk adjust? Layoffs mean the company’s output is shrinking, not growing. They get a short term savings at the cost of long term productivity.

chonglibloodsport ,

Investors buy on the rumours and sell on the news. They make money as long as the numbers go up when they’re long and down when they’re short.

I think John Deere is seen as a pretty dominant company in its industry. It locks in tons of farmers into its repair/service program.

I don’t know anything about the specifics of the layoffs but I’d imagine the reasoning was communicated to investors.

CurlyWurlies4All ,
@CurlyWurlies4All@slrpnk.net avatar

You know it didn’t use to be this way? There was a time when you could be ‘A GE man’. You could work at a company for your whole life. You would not get laid off and rehired whenever it was convenient for the company, rather they’d show you some loyalty and you’d show them the same, this would be backed by employee profit sharing schemes, incentivising higher performance.

The heart of this deal between workers and management was ripped out when management chased higher share valuations, with stock bonuses for themselves instead of workers. It became cheaper to fire 1/80th of the workforce because you could break up unions that way, management could write off all those salaries to bump up the quarterly earnings, increasing the stock price and earning themselves bonuses at the expense of workers who as you said, just learn to get by.

anon_8675309 ,

Powell memo. That’s when it started.

GoodEye8 ,

You’re looking at it from the perspective of the customer, but another aspect to get angry about is what is completely insane to someone who doesn’t live in the US. How the fuck can a company hire people who they’re going to let go in less than a year, and do that year and year? Where I live that’s illegal. The government will grab the company by the balls if they do that.

If you’re a company and you want to fire someone you first have to give a good reason why their position is being removed, then you need a good reason why you can’t give them a different position within the company and finally, when you’ve actually fired the person, you need to give them a government regulated severance package, which is usually multiple months pay in advance. And you can’t fire on the spot, you need to give at minimum a 2 week notice. In case you didn’t notice, those are rules of you just want to fire a single person, layoffs have even more rules. In short, where I live companies use layoffs as a last resort because it’s guaranteed to lose them money.

The entire hire/layoff cycle you take as something normal is something not normal to me. So this is a reminder to Americans that it is not normal and you can demand for more.

sep ,

2 weeks! It is 3 months in norway for most work. This is mutual so it works both ways.
Seasonal/contract work is different tho, they know the start and end date when signing.

awesome_lowlander ,

Though it’s unrealistic to expect them too.

Why is that an unrealistic expectation? That’s how it works in many countries with decent worker rights

ImADifferentBird ,
@ImADifferentBird@lemmy.blahaj.zone avatar

Nothing about the situation you described is normal or acceptable.

madcaesar ,

Damn it I came in here to rage… Then read your post. Very well said and reasoned. Thank you for this perspective.

Maybe it’s just my feed but lately all my posts are just rage/anger baits… I want some good educational news damn it!

Zipitydew ,

What a weird choice to have an image of Pritzker for this article.

BobDolesBBallHandle ,

Agreed. I don’t know much about the source but it might just be an indication of the author’s intent, if there is a human author.

There is a much better image choice to be used and it would not take much effort.

Update: Saw the pic, read the article, but didn’t realize the forum until afterwards. Will just move and pretend.

Zipitydew ,

I just noticed other articles about California and Michigan. They also used Newsome and Whitmer as the image. But then another for Georgia did not use Kemp as the image.

BobDolesBBallHandle ,

Sounds like there is a motive. Typically I sample the headlines and read a site’s “About Us” page before diving in.

It was early, I saw a familiar face, and started reading. Also this very subgroup is a tad bit too general for my taste. Never again.

ZombiFrancis ,

All three have one thing in common: named as potential replacements.

Media moves quick to burn.

bluGill ,

That was last quarter. You don't have to be very good at economics to look at world crop supplies, the age of the current farming equipment fleet, and other such data and conclude this next year will be tough for ag companies like Deere.

Of course the above is nothing new - ag is a cyclical business, you see the above ever 5-10 years. Previous to the current CEO the last layoffs of this type of position was the mid 1980s - several other CEOs saw the same signs the current one does and were able to manage it without layoffs.

whyalone ,

Are you feeling sorry for a soulless company that they didn’t steal enough pay from the employees and now they need to fire people to improve their quarterly report?

bluGill ,

I'm strictly reporting facts. How you feel about them is your decision. Though I suspect you didn't read everything I wrote if you come to that conlusion.

BigMacHole ,

I’m MUCH Happier with my Tax Dollars going to these Job Creators laying off Workers then to Feed Starving American Children!

-Fiscally Responsible Jesus Humping Republicans!

ChaoticEntropy ,
@ChaoticEntropy@feddit.uk avatar

Didn’t Jesus say “blessed are the market makers”?

Asafum ,

Yup, and he famously flipped a table and grabbed a whip when he saw a group of sickly beggars.

ChaoticEntropy ,
@ChaoticEntropy@feddit.uk avatar

“Ahm gunna wup ya so bad even I can’t heals ya!” he spake.

cyborganism ,

Trickle down economics at work folks.

Senseless ,

Only thing trickling down is the BS they’re presenting us.

  • All
  • Subscribed
  • Moderated
  • Favorites
  • •
  • [email protected]
  • random
  • lifeLocal
  • goranko
  • All magazines
    •