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CEDAR RAPIDS, Iowa (KCRG) —
"This is probably the best bargaining position that John Deere has been in many years," Iowa State University economics professor Peter Orazem said. "I mean the company is doing very well and the company wants to be expanding and doesn't have enough workers"
John Deere is projected to earn $6 billion this fiscal year, which is a new record, shattering the previous revenue record set in 2013 by 61%. The company employs about 7,000 workers around Iowa.
More than 10,000 John Deere workers could go on strike for the first time in 30 years.
KCRG reports the United Automobile, Aerospace and Agricultural Workers (UAW) and John Deere were back at the negotiating table in Moline, Illinois, Monday.
This came after union members overwhelmingly rejected a new contract Sunday night with John Deere.
Approximately 90% of union members voted "no" to the tentative agreement reached, which was announced Friday. The tentative agreement came after an extension was announced in September to avoid the original Oct. 1 deadline.
UAW Local 838, based out of Waterloo, posted on its Facebook another extension will occur until Wednesday at 11:59 p.m. If there is no deal, a strike will begin at that time. It would be the first strike since 1986, which lasted more than five months.
Orazem said strikes have become very uncommon, especially during economic slowdowns, and that the current situation is different because employees have more leverage due to labor shortages.
www.kcci.com
"This is probably the best bargaining position that John Deere has been in many years," Iowa State University economics professor Peter Orazem said. "I mean the company is doing very well and the company wants to be expanding and doesn't have enough workers"
John Deere is projected to earn $6 billion this fiscal year, which is a new record, shattering the previous revenue record set in 2013 by 61%. The company employs about 7,000 workers around Iowa.
More than 10,000 John Deere workers could go on strike for the first time in 30 years.
KCRG reports the United Automobile, Aerospace and Agricultural Workers (UAW) and John Deere were back at the negotiating table in Moline, Illinois, Monday.
This came after union members overwhelmingly rejected a new contract Sunday night with John Deere.
Approximately 90% of union members voted "no" to the tentative agreement reached, which was announced Friday. The tentative agreement came after an extension was announced in September to avoid the original Oct. 1 deadline.
UAW Local 838, based out of Waterloo, posted on its Facebook another extension will occur until Wednesday at 11:59 p.m. If there is no deal, a strike will begin at that time. It would be the first strike since 1986, which lasted more than five months.
Orazem said strikes have become very uncommon, especially during economic slowdowns, and that the current situation is different because employees have more leverage due to labor shortages.
John Deere, UAW resume negotiations after contract rejection; strike possible
More than 10,000 John Deere workers could go on strike for the first time in 30 years.
www.kcci.com
