Over 150 employees of Deere & Company have been told they are being placed on an "indefinite layoff", this according to officials with the company.

You can read the full statement from Deere & Company's Global Public Relations Director Ken Golden below.

• Due to decreased customer demand, Deere lowered its expectations for sales and net income as FY2019 progressed. In response to these market conditions, Deere employees at two Quad City locations were informed they will be placed on indefinite layoff.

• Approximately 50 production employees at John Deere Harvester Works were informed they will be placed on indefinite layoff effective Oct 28. Approximately 113 production employees at John Deere Davenport Works were informed they will be placed on indefinite layoff, effective Nov. 18.

• Each Deere factory balances the size of its production workforce with customer demand for products from their individual factory.

• No other Deere location is included in today’s announcements.

• Despite uncertainties of current market conditions, we remain confident in our business strategy and long-term future.