John Deere reports $ 6 billion in profits after a union brawl

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John Deere has spent the past few months leading the ranks on allegedly high wages and benefits, while 10,000 factory workers have been on strike for five weeks. Now that an agreement on a contract with the union has been reached, he can relax free up profits!! $ 6 billion so far, from $ 7 billion at the end of the year horizon. It’s ahas already doubled its profits from last year. Some of it is from charge farmers premium for your proprietary replacement parts. Some of the fact that workers are not paid a little more out of that comfortable surplus.

The final contract approved by the union, close to Deere’s previous “best and final offer”, gives 10% salary increase in 2021 and 20% the total grows in four years. That sounds great until you learn that 10% an increase can mean a salary increase less than $ 4,000 for some long-term workers. John Deere said that, on average, employees have already earned about $ 60,000; work journalist Jonah Furman he said it’s just an alternative reality, given the usual, months-long unpaid layoffs.

Employees are reportedly able to get a decent salary with performance-based raises, but they are not guaranteed, Furman says, because they depend on the entire department meeting 115% its increasing quotas.

In a press release on John Deere’s financial results for 2021, President and CEO John C. May said the contract represents “our continued commitment to delivering the best salaries and benefits in the class.” This is true for him: Tthe company gave him over 150% raise last year at $ 15.5 million.

For everyone else, we know that thousands of workers go on strike only when things are so terrible that losing a month and a half of wages and gambling seems like the best option for your future.

Gizmodo was unable to contact John Deere for comment. We will update the post if we respond.

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Naveen Kumar

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