A major farm equipment manufacturer has announced layoffs at its Saskatoon plant.

Seventy-five full-time employees at New Holland in Saskatoon will be laid off in May while nearly 350 other employees will be temporarily laid off.

The employees who will be temporary laid off will return to work in August.

Parent company New Holland Industrial said in a statement the layoffs are in response to market conditions.

About 700 employees work at the Saskatoon plant.