AGCO states they are reducing their salaried workforce by about 6% due to weakening demand in the agriculture industry. The company is not saying what locations are being affected. AGCO is estimating that they will spend $150 million to $200 million, which includes severance payments and employee benefits. They expect that amount to be spent this year and in the first half of 2025. The company said the decision to reduce its workforce is not related to the shift in production to Mexico, which was announced earlier in June. “Hesston will continue to manufacture Massey Ferguson windrowers, large square balers, combines and combine headers using the more than $28 million in investments made in the Kansas facility since 2021,” said AGCO in a statement to KSN. “Those investments have focused on updating and modernizing Hesston’s systems and equipment. By streamlining the Hesston portfolio, our goal is to secure a profitable future for the plant.”
Source: KSN-TV
