Confirms FY guidance (Il Sole 24 Ore Radiocor) - New York, 05 Jun - The US manufacturer of agricultural and construction equipment Deere & Company said that on May 31, it informed its employees of a plan to reduce its production and salaried workforce.

The job cuts will 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," it added.

Deere noted that its guidance provided on May 16 is unchanged. The company expects full-year net attributable income to be approximately 7.0 billion dollars.

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(RADIOCOR) 05-06-24 18:45:51 (0631) 5 NNNN