Moline, Ill. — Deere & Co. has rolled out a volunteer employee buyout program as of Nov. 27, 2019. The program was launched ahead of Deere’s 4Q19 earnings call.
Ken Golden, Deere’s director of global public relations, said the voluntary separation program is being offered to certain segments of Deere & Co.’s U.S. active salaried employees.
“Some employees working in precision technologies and other new product programs are examples of those who are not eligible. However, for those who are eligible, the program is offered to employees of all tenures of service,” he said.
Employees who received the offer can accept it until the end of the company's first quarter in fiscal year 2020, which began Nov. 1, 2019.
The buyout program is an extension of an earlier offering that happened for certain departments during the fourth quarter of fiscal 2019.
Deere last offered a buyout this broad in 2016, Golden said.