AGCO Launches Employee Relief Fund to Support its Global Team in Times of Crisis

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Oct 03, 2024, 08:04 ET

DULUTH, Ga., Oct. 3, 2024 /PRNewswire/ -- AGCO (NYSE: AGCO), a global leader in the design, manufacture and distribution of agricultural machinery and precision ag technology, is pleased to announce the launch of the AGCO Employee Relief Fund.

Underscoring AGCO's commitment to enhancing its employee health and wellbeing offerings, the fund provides rapid assistance in the wake of significant crisis events such as natural disasters.

"We were inspired to launch the AGCO Employee Relief Fund following the devastating floods in the Rio Grande do Sul region of Brazil, where hundreds of our employees were impacted," said Ivory Harris, SVP and Chief Human Resources Officer. "Many employees lost everything. We hope these grants help these families to recover and rebuild and that we can help even more employees in future disasters."

AGCO has so far committed over $450,000 to Brazilian employees and their families in the initial phase of relief fund grants.

"I remember the day I received the card that described all the benefits available and, automatically, my eyes watered – an immense joy," said employee, Isadora Sanches, a Finance Assistant living in Canoas. "In fact, this news was a joy for our whole family – a bit of peace and security amidst the chaos. Unfortunately, we were unable to prevent this catastrophe but knowing that we have AGCO's support in the reconstruction fills my heart with joy, hope and belonging."

Employees can submit a request for grant support through the Relief Fund, and eligibility is based on the significance of the crisis. E4E Relief, a third-party administrator with more than two decades of experience serving clients in this space, is administering the program to ensure confidentiality and impartial decision making.

About AGCO
AGCO (NYSE: AGCO) is a global leader in the design, manufacture and distribution of agricultural machinery and precision ag technology. AGCO delivers value to farmers and OEM customers through its differentiated brand portfolio including core brands like Fendt®, GSI®, Massey Ferguson®, PTx and Valtra®. AGCO's full line of equipment, smart farming solutions and services helps farmers sustainably feed our world. Founded in 1990 and headquartered in Duluth, Georgia, USA, AGCO had net sales of approximately $14.4 billion in 2023. For more information, visit www.agcocorp.com. For company news, information, and events, please follow us on X: @AGCOCorp. For financial news on X, please follow the hashtag #AGCOIR.

SOURCE AGCO Corporation