Benzinga | Oct 14, 2021 06:49AM EDT

Deere Workers Call For Strike As UAW Negotiations Fail

* The International Union, United Automobile, Aerospace and Agricultural Implement Workers of America (UAW) has called a strike against Deere & Company (NYSE:DE), affecting more than 10,000 workers at 14 facilities across the U.S.

* "John Deere is committed to a favorable outcome for our employees, our communities, and everyone involved," states Brad Morris, VP of labor relations for Deere.

* The company says it is determined to reach an agreement with the UAW that would put every employee in a better economic position and make them the highest-paid employees in the agriculture and construction industries.

* Deere does not currently estimate when employees will resume activities or the timing for completion of negotiations.

* Recently, UAW informed Deere that its production and maintenance employees rejected the tentative collective bargaining agreements.

* Price Action: DE shares are trading higher by 0.30% at $330 during the premarket session on Thursday.