Deere & Co. last week said it will cut costs and ramp up investment in data-driven agriculture technology and its services business to make itself more profitable. The company is also reviewing its overseas footprint in markets that have peaked or over-invested.
Read moreDeere recently announced indefinite layoffs amid demand woes.
Read moreJohn May, Deere’s incoming chief executive, will narrow the company’s focus to enhancing technology and growing the U.S. market. This is a pivot from CEO Sam Allen’s emphasis on selling more equipment in developing markets overseas.
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Deere filed suit this week in U.S. District Court against two former employees for allegedly stealing trade secrets. The suit claims the husband and wife downloaded, transferred and removed confidential information while planning their exits.
Read moreDeere & Co. filed suit last week in U.S. District Court against two former employees for allegedly stealing trade secrets.
Read moreFor the quarter ending July 28, sales at its agriculture and turf segment declined 6 percent year-on-year. Overall, equipment sales were down 3 percent. The company cut its full-year earnings outlook for the second time in the past three months.
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The Deere board has elected John C. May as a member of the board and chief executive officer. He succeeds Samuel R. Allen, who will continue as chairman of the board.
Read moreAssembled Products, Inc. has been named an Enterprise Supply Management Supplier of the Year by John Deere. The Urbandale, Iowa,
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