John Deere as corporate punching bag
- Thread starter Turn2
- Start date
I live near the thick of it. It’s bad. Like really bad and I’m surprised there’s not more coverage of it. Everywhere I go in CF/Wloo you find people either talking about it or directly affected by it.
My company hired 3 JD employees who lost their jobs during a prior major layoff (2016ish). I kid you not, ALL 3 went back within 18 months. I never got the mindset that you'd go back to a company who let you go even if it was purely business reasons for the layoff.
This is the way of business now. Shareholders aren’t looking at how this affects the business long term. They want profits in this cycle. So the “waste” of retaining employees for projects that aren’t being funded reduces profit and is deemed unacceptable
Sounds like some buddies and their crazy ex girlfriends that turned into their even crazier ex wives
There’s certainly an expectation it will be bad. No one really knows for sure though.
I know 9 people that have lost jobs so far. It’s already bad.
The Ag engineering that has already happened is nothing compared to what is expected from the groups being affected today.
I work for a company that supplies Deere with numerous parts. For months Deere has been a mess and are behind on almost all of their project timelines.
Only if the pay was so much better that it makes the difference I guess but that's still really volatile.
I get it. I’m saying of all the different people I know already impacted they are from 4 very different arms of JD. This negative momentum has already been rolling.
I feel for the families. Waiting for that phone call is stomach turning.
May be a pension thing. Some people are enamored with pensions and will do weird things once they are vested.
Deere is a weird company when you look at them. They have been having decent profits but when you look at their balance sheets, their debt is climbing at a pretty steady pace for the profit they are turning.
Corporate greed at its finest.
This is what should continue to make people absolutely enraged. Companies constantly switching back and forth between on-shore and off-shore to find every single dollar they can save. No loyalty to those that have been there and gained vast knowledge. Often get rid of the system or process experts so they never have the right hands on deck when things go wrong. All while the Executive Teams make millions of dollars a year - mostly just sitting in useless meetings all day.
This isn't about politics - this is about pure and utter greed without any sense of worth for those doing the actual work. And let's not forget that teachers make as little as 35K a year while high school coaches can make over a million in Texas. Example 276,987 on why the world is so ****** up and upside down.
Again. This is what we signed up for with companies turning to public shares vs private ownership. Everything is about short term. John Deere isn’t unique. Shareholders put a CEO in place to maximize profit and pay them well to make sure they own them. If that ends up crushing the business, no worry. They’ll have divested by the time it crumbles and they move on to the next business.
Unfortunately it seems to be happening on both sides. Companies have not shown loyalty to employees in many ways but have employees become less loyal at the same time? How many people do you know that have switched jobs in less than a years time or have agreed to take a job only to turn it down days before their onboarding because another company got back to them and instead of saying they had taken a job, they listened to the offer and then accepted that one? It seems there is the same amount of loyalty to companies as there is loyalty from companies. Neither one is right and I dislike it.
Throw in everyone is excited about their 401ks jumping 15-20% in a year, this is how it kind of happens. 30 years ago we expected 8-9% gains on an average with only a few percent deviations, now its back and forth wildly.
This is true, but the flip side is that cost-cutting also reduces costs for consumers. It's like free trade, net-net society is better off, even though some people lose, and even though its hard to see & feel that broad overall impact.
Note I am not defending JD here, what they're doing seems short-sighted to me. Their whole MO seems sub-optimal to me.
