Ag. Secretary Tom Vilsack reacts to Deere layoffs - KWWL - Eastern Iowa Breaking News, Weather, Closings

Ag. Secretary Tom Vilsack reacts to Deere layoffs

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The company's slogan is "Nothing runs likes a Deere", but these days, fewer farmers are demanding those products and the company will be making fewer of them, leading to layoffs.

"It's a reflection of prices coming down a little bit from where they were," said Tom Vilsack, U.S. Agriculture Secretary and former Iowa Governor. "Our livestock industry is rebounding as a result. So I think it's going to take a little time for the ag economy to rebalance."

But things may be looking up according to Vilsack.

"We've had solid years," said Vilsack. "We've had record income years for ag, we've had record exports. We're going to continue to see that."

As things rebound, Vilsack says the demand for all those tractors and farm equipment will be back.

"There's no question in my mind we're going to see a rebound of crop prices at some point and when we do John Deere will obviously add folks back on," said Vilsack.

Vilsack was in eastern Iowa on the day the layoffs were announced, visiting an Ely couple who  recently received a grant that was funded in the most recent Farm Bill.
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