John Deere , Reveals Record Profits, Despite Strike.
On Nov.
24, John Deere posted annual net income of about $6 billion.
That is more than double of what it earned last year, which was $2.8 billion.
The company had even endured a five-week strike by over 10,000 members of the United Auto Workers union.
The company had even endured a five-week strike by over 10,000 members of the United Auto Workers union.
CNN reports the strike only affected the last two weeks of the fiscal year ending Oct.
31.
Our results reflect strong end-market demand and our ability to continue serving customers while managing supply-chain issues and conducting contract negotiations with our largest union, John May, John Deere CEO, via CNN.
Last week's ratification of a six-year agreement with the UAW brings our highly skilled employees back to work building the finest products in our industries.
, John May, John Deere CEO, via CNN.
The agreement shows our ongoing commitment to delivering best-in-class wages and benefits, John May, John Deere CEO, via CNN.
CNN reports that John Deere said it expects to earn between $6.5 billion and $7 billion in the current fiscal year.
CNN reports that John Deere said it expects to earn between $6.5 billion and $7 billion in the current fiscal year