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Deere & Company said that approximately 800 salaried employees will leave the company as a result of a voluntary separation program announced in April. The total will enable the company to achieve first-year savings of approximately US$75 million after a pretax expense of about $100 million primarily in 4Q 2009.
The voluntary separation program was designed to help Deere immediately leverage the efficiencies of the merged divisions. The company said it expects the new operating model will enhance its competitive position around the world.
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