Major layoffs at Deere & Co.

JOHN DEERE FILE VO

EAST MOLINE, Ill. (AP) — Deere and Company says it will lay off about 120 workers at its combine plant in East Moline on March 31st.

According to the Quad City Times, employees learned the news Thursday during a meeting at the plant. About 2,800 people work at the factory.

Moline-based Deere said this week that it expects the North American farm-equipment industry to see a 5 percent to 10 percent drop in sales this year after a record-setting 2013.

The company also this week reported record first record first-quarter profits.

Deere said the layoffs will be based on seniority.

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