A General Motors illustration featuring a display version of its 2024 Silverado EV pickup, due for release in the fall of 2023. (Media.GM.ca)

GM buyouts cut 5,000 jobs, CFO says

Not much more room seen to raise prices

Reuters — About 5,000 General Motors salaried workers took buyouts to leave the company, putting the company well on the way to hitting a US$2 billion cost-cutting target, the automaker’s chief financial officer said Tuesday. GM shares were trading down nearly two per cent at midday, even though CFO Paul Jacobson said demand for GM’s […] Read more

A unit from Massey Ferguson’s VE Series of planters. (News.agcocorp.com)

Agco ransomware attack disrupts equipment sales

Dealerships cut off from parts ordering system

Reuters — U.S. agricultural equipment maker Agco Corp. said on Friday a ransomware attack was affecting operations at some of its production facilities, and dealers said tractor sales had been stalled during the crucial planting season. Georgia-based Agco, whose brands include Massey Ferguson, Fendt, Challenger and Valtra, said in a statement it expects operations at […] Read more