Union workers at the company filed into locations across Iowa and Illinois on Tuesday to vote on a new tentative agreement. With that in mind, Deere is under pressure to create higher-tech products that save farmers money in other ways, according to Kristen Owen, an analyst with Oppenheimer. John Deere workers go on strike 01:05 - Source: CNNBusiness CNN John Deere (DE) and the United Auto Workers Union have reached a new tentative agreement, more than two weeks after 10,000. ALTOONA, Iowa The Union Auto Workers (UAW) strike at John Deere will continue after a majority of members voted Tuesday to reject the new agreement reached last Friday. will continue to provide health insurance and pay performance bonuses to striking employees. So you have to keep buying the product.”Īnd the equipment is only one of many costs farmers have to pay attention to, Duignan said. “And I have heard farmers describe Deere as the new Apple, where, you know, prices continue to rise, but there’s nowhere to go. factories, announced Wednesday night that its members had voted 61 to 39 in favor of the deal that. That’s still not a welcome prospect for farmers. The United Auto Workers, which represents the 10,000 workers from a dozen Midwest Deere & Co. Based on her calculations, Duignan said, Deere would need to raise prices by around 1.5% to offset the increase in labor costs. “No, no, no,” said Ann Duignan, a machinery analyst for JP Morgan. But does increasing workers’ pay mean tractors will also cost 10% more? The workers approved an immediate 10% raise. John Deere 's striking union employees have approved the company's latest contract offer, ending a month-long strike and successfully fighting for greater pay and benefits. executive said Monday that the manufacturer will be able to shift some production to its overseas sites as the 10,100-employee strike affecting plants in Iowa, Illinois and Kansas. The numbers could show any financial damage to the farm and construction equipment manufacturer following a monthlong strike by Deere employees in the United Auto Workers union. Later this week, we’ll get quarterly earnings from Deere & Co.
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