Due to weakening demand in the agriculture industry, AGCO Corporation has announced a program to reduce the company's salaried workforce by about 6%. AGCO estimates it will incur charges for one-time termination benefits of approximately $150 million to $200 million, including charges such as severance payments and employees' benefits.
AGCO expects most of these cash charges will be incurred in 2024 and the first half of 2025.
https://www.dtnpf.com/agriculture/web/ag/equipment/article/2024/06/28/another-solar-storm-new-holland-tech