Vestas to 'intensify' cost savings, reports third-quarter loss

Danish wind turbine giant Vestas unveiled plans for more job cuts next year as it reported a third-quarter loss.

The company says the “intensification” of its cost-cutting programme will see it save an additional €150m ($193m) in 2013, which will bring the annual cost-savings to €400m since the end of 2011.

The company now expects to shed an extra 2,000 jobs next year, leaving it with a global staff of 16,000.

The group says its current job cuts are proceeding ahead of schedule and it expects to have 18,000 staff by early next year, 1,000 less than predicted. At the start of this year it employed about 22,700.

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