A company known for its signature green products is handing out a massive number of pink slips in Iowa.

Deere & Company, the parent company of John Deere, which manufactures agricultural machinery, heavy equipment, forestry machinery, diesel engines, drivetrains (axles, transmissions, gearboxes) used in heavy equipment, and lawn care equipment, is laying off more than 300 workers in the Hawkeye State.

The cuts are part of more than 600 jobs that are being lost company-wide.

Deere says the production positions being eliminated are concentrated at two factories in Iowa and one at its home base in Moline, Illinois, where 280 employees will be laid off effective August 30.

A combined 310 workers will be out of work at the Iowa locations - 230 employees are being let go at a factory in Davenport and 80 production employees at the company’s Dubuque plant will also be impacted.

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According to the Associated Press, the moves are in response to a more than 15 percent drop in the company's second-quarter earnings, which is the third straight quarter of year-over-year sales declines.

The recent layoffs translate to about 14% of the more than 4,000 production and maintenance jobs at the three facilities. Deere employs more than 80,000 people worldwide.

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