AGCO announced layoffs at its Hesston manufacturing facility this week, following a 6% workforce reduction in June due to decreased demand in the agriculture industry. The company cited a drop in customer demand after three years of strong sales.
In a statement, AGCO emphasized the need to reduce costs and create efficiencies to remain competitive while continuing to support farmers. The recent layoffs will affect fewer than 70 employees.
"Aligning our workforce and production schedules to meet current demand can be difficult for our team, and we will continue to take steps to minimize employee impact while meeting farmer needs. AGCO is proud to be part of the Hesston community, where our employees build the world-class equipment that help farmers feed the world. ”
Source : Farm Equipment