Company officials at John Deere have announced the layoff of additional workers.
Agriculture Dive reported the company will lay off 112 workers at their Waterloo Works tractor plant in Iowa.
This marks the sixth round of layoffs at the plant this year, cutting the John Deere facility more than 1,100 employees.
Reports said John Deere has been forced to cut production of its tractors, as demand for new farm equipment has stalled during a difficult agriculture economy.
Tractor dealers have been challenged with moving inventory, due to high interest rates, low farm incomes, weak commodity prices, and borrowers who are postponing large purchases.
A recent report from the United States Department of Agriculture showed cash receipts from row crops like corn and soybeans to fall 18-percent this year, following a five-percent drop in 2023.
