Vestas to cut 2,300 jobs ahead of 'low-growth' wind market

Wind equipment giant Vestas will cut more than 2,300 jobs and close or merge some production plants in the coming months.

The Danish turbine group will also revamp its management structure and create a Global Solutions and Services unit focusing on the development of new services.

The moves are part of a reorganisation that Vestas chief executive Ditlev Engel says is needed to “reduce costs significantly in order to prepare for a market with low growth and increased competition".

Of the 2,335 jobs expected to go, 1,300 will be in Denmark. The reduction will leave Vestas with 20,400 workers globally.

Vestas says it will cease manufacturing at its tower factory in Varde, Denmark.

The company warns…

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