Deere & Co. (DE) Reiterates Guidance Despite Job Cuts

The guidance provided by Deere & Co. (NYSE: DE) on its earnings call held on May 16, 2024 is unchanged. The workforce reduction described in Item 8.01 hereof is not expected to impact such guidance.

On May 31, 2024, the Company announced to its employees a plan to reduce its production and salaried workforce to help the Company meet its strategic priorities while reducing overlap and redundancy in roles and responsibilities. It is anticipated that the activities related to salaried employees will occur during the third quarter of fiscal year 2024.

You May Also Be Interested In

• TJX stock drops as profit outlook falls short of analyst estimates
• Lowe's slashes full-year sales outlook amid DIY spending pressure
• Deere & Co. (DE) call put ratio 1.1 calls to 1 put into quarter results