Warwickshire tractor firm AGCO to cut 100 jobs
WARWICKSHIRE farm machinery manufacturer AGCO is to shed 100 jobs, according to reports.
The job losses will be split between the company’s site at Abbey Park, Stoneleigh, and a base in Leicestershire, the Coventry Telegraph reports.
Bosses at the firm, which owns tractor maker Massey Ferguson, say they will cut their 500-strong workforce by 20% as part of wider restructuring plans.
The newspaper reports that AGCO has blamed the decision on the current downturn in global farm machinery markets.
The Warwickshire site is AGCO’s European operations facility and houses staff from sales and marketing, customer support, finance and accounting, technical service, parts, legal services and IT.
The news comes just days after Peugeot announced 90 job losses at its Coventry HQ.
