AGCO

Type
Internal restructuring
Country
United Kingdom
Region
Location of affected unit(s)
Desford, Leicestershire, Stoneleigh, Warwickshire
Sector
Manufacturing
(28) Manufacture of machinery and equipment
28.3 - Manufacture of agricultural and forestry machinery
28.3 - Manufacture of agricultural and forestry machinery
100 jobs
Number of planned job losses
Job loss
Announcement Date
20 November 2014
Employment effect (start)
20 November 2014
Foreseen end date
30 November 2014

Description

Manufacturer of agricultural machinery AGCO has announced that it is to cut up to 100 jobs from its sites in Warwickshire and Leicestershire. AGCO, which owns Massey Ferguson has said that the job cuts are a reponse to slowdown in the global markets for farm machinery. Currently 500 people are employed at the two sites; it is understood that there will be some restructuring of the two sites when the job cuts take effect. The company has confirmed that the jobs will be lost by the end of November. 

Sources

  • 20 November 2014: BBC Website

Citation

Eurofound (2014), AGCO, Internal restructuring in United Kingdom, factsheet number 77926, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/77926.