WORLD’S BIGGEST WIND MAKER CUTS 2335 JOBS

Vestas to cut 2,335 jobs; Vestas is to cut 2,335 jobs as part of a restructure and cost reduction programme.
James Quilter, 12 January 2012 (Windpower Monthly)

"…Vestas said it aimed to reduce fixed costs by €150 million, primarily through streamlining support and closing factories where there is less market demand…[O]f the 2,335, 1,300 jobs will be lost in Denmark. After the cuts, Vestas will employ 20,400 globally, and 5,300 in Denmark.

"Vestas also fired off a warning to the US government and said it was prepared to cut 1,600 US jobs if the Production Tax Credit is not extended."

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"Last year, the company warned redundancies would be on the way. At the end of 2011 the company announced a profit warning and said the oncoming restructure would result in job cuts…In November 2010, [Vestas] went through a similar exercise cutting 3,000 staff (around 13% of the global workforce) in Scandanavia.

"Other changes include the creation of a 'Global Solutions and Services' unit to help build the companies O&M business Additionally, six new postitions have been created at executive board level…[Vestas CEO Ditlev Engel] said he had no plans to resign."