For nearly 200 John Deere workers in Iowa, the first few days of 2025 marked the end of their employment. 

On Jan. 3, 112 employees were laid off at the Waterloo facility and 80 were laid off at John Deere Davenport Works. Next month, 75 additional employees will be laid off at a plant in Ottumwa, Iowa,  according to a review of WARN layoff data.

The Moline, Illinois-based agricultural giant laid off 2,167 workers in 2024 at facilities in Waterloo, Davenport, Dubuque, Ankeny, Johnston, Urbandale, Ottumwa in Iowa and in Moline and East Moline in Illinois, according to layoff data.

In a statement issued Monday, Deere attributed the cuts to “challenging market conditions” and subsequent lower demand from farmers.

Deere’s profits peaked at record highs in 2022 at $10.16 billion, partly due to Russia’s invasion of Ukraine that sent crop prices soaring in the U.S., allowing farmers to spend more on equipment, according to Bloomberg. Since then, sales have declined 20% and Deere’s stock price is down 16%, according to the company. Profits in 2023 fell to $7.1 billion.