Some of the largest food and agriculture companies significantly reduced their workforces or closed facilities in 2024 following a stretch of declining sales and rising costs.

Tractor giants Deere & Co. and Agco had a rough year in terms of sales as crop farmers held onto old equipment and took out fewer loans for big purchases thanks to a down farm economy. They are actively cutting production at their plants as dealers make their way through a surplus of inventory.

Meanwhile, meat companies Tyson Foods and Cargill have dealt with cost and operational challenges in beef driven by a shortage of U.S. cattle on the market. And in agtech, indoor farming startups struggled due to a lack of sales and investor funding.

Looking ahead, companies are hopeful for greener pastures after trimming their operations. Here are some of the major closures and layoffs that Agriculture Dive tracked in 2024.