AGCO to Lay Off 6% of Workforce

AGCO has revealed plans to lay off approximately 6% of its workforce, attributing the decision to a decline in demand within the agricultural sector.

The specific number of employees at the Hesston, Kansas, production plant who will be impacted, as well as the timeline for the layoffs, has not been disclosed.

In a statement, AGCO clarified that these layoffs are unrelated to the recent announcement of shifting some production to Mexico.

"By streamlining the Hesston portfolio, our goal is to secure a profitable future for the plant," the company said.

The Hesston facility will continue to produce Massey Ferguson windrowers, large square balers, combines, and combine headers. Since 2021, AGCO has invested over $28 million in the facility, focusing on modernizing and upgrading its systems and equipment.