Deere to lay off about 460 in Iowa

AGRICULTURAL equipment maker Deere is laying off about 460 employees indefinitely from an Iowa tractor factory as it continues to adjust to market demand.

THE Moline, Illinois, company said on Friday the latest round of layoffs will be effective on October 20. Deere said last week that it would lay off more than 600 employees at four Midwest factories that make harvesting and other agricultural equipment due to slumping demand.

Deere & Co is the world's biggest farm equipment supplier and employs about 67,000 people globally.It said earlier this month that it planned to reduce agricultural equipment production for the remainder of the year.

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