The agricultural downturn continues to take a toll on Iowa's economy, with Bridgestone Americas Inc. offering buyouts to up to 130 employees at its Des Moines-based Bridgestone-Firestone agricultural tire plant. This news comes just days after John Deere announced additional layoffs at its Ottumwa facility, highlighting the widespread impact of the struggling agricultural sector.

The buyout offer stems from "ongoing demand constraints in the agriculture tire sector," according to a statement from Bridgestone. The company notified United Steel Workers Local 310L on Monday and is offering severance packages of $35,000 to incentivize voluntary departures.

While the fate of the remaining positions remains uncertain, Keenan Bell, president of the local union, believes the company may resort to layoffs or furloughs if the full quota of 130 buyouts isn't met by the end of January. Bell expressed a preference for the buyout option, acknowledging the difficulty Bridgestone has faced in retaining new hires.

"We obviously don't like seeing layoffs," Bell said, "but I don't think Bridgestone does, either, due to the difficulty we've had in the past filling positions." He pointed out that the plant hired nearly 900 new workers between 2021 and 2024, but managed to retain only 200.

Bridgestone's statement echoed this sentiment, emphasizing a focus on "ensuring we remain competitive and that resources are allocated in a manner that best supports our business strategy."

The Des Moines plant, currently employing around 875 workers, has seen significant workforce reductions in recent years. Once boasting nearly 1,800 employees with a broader product line, the facility has become heavily reliant on the agricultural and forestry sectors.

"The Des Moines plant manufactures tires for large agricultural and forestry equipment, so its orders are entirely dependent on those two sectors of the economy," Bell explained, adding that the slowdown began "just before last summer."

The agricultural downturn extends beyond Bridgestone. John Deere, a major agricultural equipment manufacturer, has cut over 1,800 jobs in Iowa across various facilities within the past ten months. Additionally, several Deere suppliers and Tyson Fresh Meats, which shuttered its Perry pork processing plant in June 2024, have also contributed to the state's rising unemployment numbers.

This latest development underscores the interconnectedness of Iowa's economy and its vulnerability to fluctuations in the agricultural sector. With a significant portion of the state's economy tied to agriculture, a decline in farm income, as reported by the Coalition to Support Iowa's Farmers in June 2024, has a ripple effect across various industries.

The future of Bridgestone's Des Moines plant and the wider agricultural sector remains uncertain. The buyout offer provides an option for some employees, but the potential for layoffs and furloughs raises concerns about the long-term stability of the workforce and the overall health of Iowa's agricultural economy.