President Biden delivers remarks on efforts to address supply chain bottlenecks.
Negotiations are down to the wire between Deere & Co. and union representatives as 10,000 of the company’s employees represented by the United Auto Workers appear ready to strike at midnight on Wednesday.
Contacts at Deere told FOX Business Wednesday evening that the talks are still ongoing and that they hope to reach an agreement. The United Auto Workers told FOX Business that there was no update, and reiterated that the strike deadline is 11:59 p.m.
The John Deere logo is displayed on a tractor at Belkorp Ag on May 20, 2016 in Santa Rosa, California. (Photo by Justin Sullivan/Getty Images) (Justin Sullivan)
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| DE | DEERE & CO. | 329.00 | -1.60 | -0.48% |
RETURN TO OFFICE FOR WORKERS REACHES PANDEMIC HIGH AS EMPLOYEES TRICKLE IN
On Monday, more than 90% of the workers spanning 14 plants across the U.S. rejected Deere’s offer, which would have boosted pay 5% for some workers and 6% for others along with bolstering retirement benefits for existing employees.
Several Deere & Co. employees out of Iowa told the Des Moines Register that their managers told them not to report for their shifts on Wednesday.
John Deere tractors. (Photo by: Jeffrey Greenberg/Universal Images Group via Getty Images) (Jeffrey Greenberg/Universal Images Group)
The agricultural equipment manufacturer based out of Moline, Illinois, hasn’t seen a workers’ strike for 35 years. But with labor shortages across the country and Deere raking in record profits, workers feel now is the time to hold their ground and ask for more.
A Deere & Co. tractor and round baler for sale at a John Deere dealership in Shelbyville, Kentucky (Photographer: Luke Sharrett/Bloomberg via Getty Images) (Luke Sharrett/Bloomberg)
GET FOX BUSINESS ON THE GO BY CLICKING HERE
“The whole nation’s going to be watching us,” Deere employee Chris Laursen told the newspaper. “If we take a stand here for ourselves, our families, for basic human prosperity, it’s going to make a difference for the whole manufacturing industry. Let’s do it. Let’s not be intimidated.”
The Associated Press contributed to this report.
