AGCO initiates restructuring; $150-200M termination costs, up to 6% workforce cut

AGCO CORP /DE

One-time termination benefits of $150M-$200M, mostly cash severance and benefits.
Expected annual run-rate cost savings of $100M-$125M once fully implemented.
Net reduction of salaried workforce by up to ~6% vs. Dec 31, 2023 headcount.
Majority of cash charges incurred in 2024 and first half of 2025.
Company cites weakening agriculture demand; may evaluate additional restructuring phases.

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