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AGCO shut down for awhile.
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Leon B MO View Drop Down
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Joined: 12 Sep 2009
Location: Old Monroe, Mo
Points: 2263 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Leon B MO Quote  Post ReplyReply Direct Link To This Post Topic: AGCO shut down for awhile.
    Posted: 12 hours 2 minutes ago at 2:38pm
I called my parts guy at the local AGCO dealership yesterday to order some fan belts for my 8050, he said as of September 30th AGCO is going through a re-structuring and will not take orders for 5 to 21 days...pretty freaking sad. Anybody else hear anything about this prior to them just basically closing the doors?
Leon B Mo
Uncle always said "Fill the back of the shovel and the front will take care of itself".
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im4racin View Drop Down
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Joined: 12 Jun 2017
Location: Garrison ND
Points: 1160 		Post Options Post Options   Thanks (0) Thanks(0)   Quote im4racin Quote  Post ReplyReply Direct Link To This Post Posted: 11 hours 17 minutes ago at 3:23pm
The parts website lost gleaner last week and yesterday only had fendt…
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EPALLIS View Drop Down
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Joined: 12 Sep 2009
Location: Illinois
Points: 1180 		Post Options Post Options   Thanks (0) Thanks(0)   Quote EPALLIS Quote  Post ReplyReply Direct Link To This Post Posted: 8 hours 26 minutes ago at 6:14pm
Interesting Post.  Here is what hot gossip I could find out:  It happened on Tuesday Sept 29.

AGCO (NYSE:AGCO) disclosed a restructuring program Tuesday in response to increased weakening demand in the agriculture industry, including a ~6% reduction of the company's salaried workforce.

AGCO (AGCO) said the initial phase of the program will focus on further reducing structural costs, streamlining its workforce and enhancing global efficiencies related to changing its operating model for certain corporate and back-office functions and better leveraging technology and global centers of excellence.

The company estimates it will incur $150M-$200M in charges for one-time termination benefits related to the first phase of the program, consisting mostly of cash charges related to severance payments, employees benefits and related costs, to be incurred in 2024 and H1 2025.

Once fully implemented, AGCO (AGCO) expects the first phase will yield $100M-$125M in annual run-rate benefits and cost savings.

The restructuring program follows AGCO's (AGCO) reported Q1 drop in sales and earnings, as global demand fell in the agricultural equipment industry.
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victoryallis View Drop Down
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Joined: 15 Apr 2010
Location: Ludington mi
Points: 2911 		Post Options Post Options   Thanks (0) Thanks(0)   Quote victoryallis Quote  Post ReplyReply Direct Link To This Post Posted: 7 hours 12 minutes ago at 7:28pm
The dealer we deal with sent out a letter in June or July announcing the black out. They had an incentive to pre order parts.  Talked to another dealer they increased their inventory in preparation and they heard other dealers did as well.  Parts are available for down machines it’s just a very painful process.  Its condensed to a 2 week circus.  
8030, 7060, six 6080’s grandpa’s D17, 8760, 8100, and 8970 Deere.
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cwhit View Drop Down
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Joined: 12 Sep 2009
Location: Sigel IL
Points: 1035 		Post Options Post Options   Thanks (0) Thanks(0)   Quote cwhit Quote  Post ReplyReply Direct Link To This Post Posted: 6 hours 2 minutes ago at 8:38pm
Same here. Local dealers put out the info in June .  Was in there Friday and said they could put orders in on Monday but couldn’t say when they would receive them.
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SteveM C/IL View Drop Down
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Joined: 12 Sep 2009
Location: Shelbyville IL
Points: 9224 		Post Options Post Options   Thanks (0) Thanks(0)   Quote SteveM C/IL Quote  Post ReplyReply Direct Link To This Post Posted: 4 hours 58 minutes ago at 9:42pm
Hmmmm.....bearing went out on R62 spreader and ate the gears. Hope my dealer has a set in stock....
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DrAllis View Drop Down
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Joined: 12 Sep 2009
Points: 23559 		Post Options Post Options   Thanks (0) Thanks(0)   Quote DrAllis Quote  Post ReplyReply Direct Link To This Post Posted: 3 hours 41 minutes ago at 10:59pm
I knew about the upcoming parts shut down a month ago, but didn't hear about the layoffs until now.
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