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AGCO cuts hit Precision Planting
AGCO has confirmed that an announced restructuring has led to layoffs at Precision Planting.
In a statement to Brownfield, the company says its reductions announced in June, and recently carried out, are in response to continued weakening demand in the agriculture industry and long-term efforts to structurally change AGCO’s operations.
No details were released on the number of workers impacted at Precision Planting.
The company says its plan includes a reduction of approximately 6% of the AGCO salaried workforce as it works to reduce structural costs, streamline its workforce, and better leverage technology.
AGCO says it’s also continuing to adjust production capacity to align with industry demand.
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