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Vestas CEO: We have a 'credibility problem'
On the heels of its lackluster financial forecasts and revised financial earnings, Danish wind turbine giant Vestas has announced a massive wave of layoffs and a major corporate restructuring designed to protect the company from further damage.
January 12, 2012
by Laura DiMugno
in North American Windpower
On the heels of its lackluster financial forecasts and revised financial earnings, Danish wind turbine giant Vestas has announced a massive wave of layoffs and a major corporate restructuring designed to protect the company from further damage.
The news was expected, and some analysts had speculated that the company's CEO, Ditlev Engel, would be ousted from his top spot. Engel will remain at the helm, but the company will lay off 2,335 employees globally - Vestas' third round of layoffs in just three years. Most of these eliminated positions will be in Denmark and the rest of Europe; however, 182 U.S.... [continue via Web link]
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