John Deere

Leading manufacturer of farming and construction equipment.

Go To

Headquarters:
One John Deere Place
Moline, IL 61265
Employees: 67,000
CEO: Samuel Allen
Stock Quote: DE

John Deere is a leading maker of industrial equipment used in farming and construction including bulldozers, tractors and lawn mowers.

Deere consists of three major business segments (agriculture and turf, construction and forestry, and credit). The company's products and services are primarily sold and serviced through John Deere's dealer network.

Agriculture and Turf — John Deere is the world's leading manufacturer of farm equipment. The company also produces and markets North America's broadest line of lawn and garden tractors, mowers, backhoes for the farm, golf course equipment, and other outdoor power products. John Deere Landscapes provides irrigation equipment and nursery supplies to landscape-service professionals across the United States.
Construction and Forestry — The company is the world's leading manufacturer of forestry equipment and is a major manufacturer of construction equipment in North America.
Credit — John Deere Credit is one of the largest equipment finance companies in the U.S. with more than 2.4 million accounts and a managed portfolio of nearly $23 billion (U.S.) In addition to providing retail, wholesale and lease financing to help facilitate the sale of John Deere agricultural, construction and forestry, and commercial and consumer equipment, John Deere Credit also offers revolving credit, operating loans to farmers, crop insurance (as a Managing General Agent), and debt financing for wind energy.

In fiscal 2015, Deere reported revenues of $28.8 billion, down 20% from the previous year, and net income of $3.16 billion. Equipment sales in the U.S. and Canada dropped 18% for the year.

The company has reported weakness in global farm and construction equipment demand due to low crop prices.

History

In 1837, blacksmith John Deere created a new steel plow to help farmers cut clean furrows through sticky Midwest prairie soil. The plow became a hit among farmers and Deere was soon producing 1,000 a year. The company was incorporated as Deere and Company in 1868. His son Charles Deere would take over the company.

The John Deere Tractor and Engine Museum opened in Waterloo, IA in December 2014.

Benefits

The company offers the following benefits to employees:

Healthcare Medical plans offered through John Deere Health or CIGNA Healthcare. Dental and healthcare reimbursement accounts also offered.

Time Off The standard vacation policy starts with five days after six months and 10 days after the first year of continuous employment. The number of vacation days increases with continuous employment, up to a maximum of five weeks of vacation annually. You can also purchase additional time off to meet your personal needs. Deere recognizes up to 11 holidays per year.

Pension and 401(k) Plan Pension plan provided based on years of service. 401(k) plan offers a minimum company match of 2.5% on the first 6% of your deferrals with a 10% maximum match on the first 6% based on company performance.

Tuition Reimbursement - $7,500 per year for undergraduate programs, $15,000 for graduate programs.

Fitness - On-site workout centers and discounts at local health clubs.

Discounts - Employee discounts on Deere products

Updated September 22, 2016