According to reports, large-scale layoffs by Silicon Valley technology giants such as Amazon, Microsoft and Meta have provided a good opportunity for large agricultural and construction equipment manufacturers in the Midwest to attract talent.
For Deere & Co, the world's largest maker of agricultural machinery, and its competitors, the current round of layoffs in Silicon Valley has opened up a talent pipeline for them. At present, these companies are expanding into self-driving tractors, mining trucks and other smart agricultural technologies, and are in urgent need of recruiting technology workers.
Because of the large number of job openings, these companies also offer telecommuting options for these potential tech employees and open new offices in big cities such as Austin and Chicago. This is potentially attractive for employees who do not want to move to smaller cities in the Midwest.
Executives at these companies say newly acquired technology talent is likely to inject much-needed expertise into agricultural equipment manufacturing and help change the industry by using more artificial intelligence and automation.
Scott Wine, CEO of machinery maker CNH Industrial, says it is hard for construction and agricultural equipment makers to compete with Silicon Valley technology companies in terms of pay. But now, Silicon Valley is laying off staff, which means "we have a chance".
Wayne also said CNH Industrial hired more than 350 engineers last year, some of them from Amazon and Microsoft. This year, the company will also spend more than $1.4 billion on research and development.
Texas-based Caterpillar, Deere's main competitor, is also hiring technology talent aggressively. Caterpillar CEO Carl Weiss (Karl Weiss) said in an interview that the company's new hires in machine learning, computer science and software engineering increased by 30 per cent in 2022 compared with the previous year.
In addition, Detroit carmakers are also hiring technology personnel to meet the growing software needs of cars, according to auto industry executives.
Between the end of last year and the beginning of this year, technology companies such as Amazon, Microsoft and Meta made the biggest layoffs since the dotcom bubble burst in the late 1990s. These big tech companies cut more than 150000 jobs in 2022, according to Layoffs.fyi, a tracking website.
Responsible Editor: Zheng Zhuo