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Wind giant Vestas plans hundreds of job cuts amid 'highly volatile environment'

ReCharge|Andrew Lee |March 21, 2022
DenmarkGeneral

Like other wind OEMs, Vestas is enduring turbulent conditions in the wind power market amid supply chain and logistics cost pressures, as well as shifts in demand to new markets. Peers Nordex and Siemens Gamesa have both already announced job cuts this year in Europe and the US respectively. Vestas itself last September announced plans to close three European factories in a move that placed a question mark over 650 jobs.


Turbine OEM says some posts will go in Denmark as it balances '2022 priorities and long-term growth'

Wind OEM giant Vestas is planning 275 job cuts as it navigates a “highly volatile business environment”.

The wind group said 75 of the layoffs will occur in its home market of Denmark, with 45 of those at its blade development plant in Lem but gave no details of the other reductions.

A statement sent to Recharge said: “To strengthen our foundation and ability to protect our value creation and manoeuvre in the highly volatile business environment, we are adjusting our activities and organisational setup. This includes prioritising and postponing technology, IT and sales activities across Vestas.

“Unfortunately, the adjustment also includes …

... more [truncated due to possible copyright]

Turbine OEM says some posts will go in Denmark as it balances '2022 priorities and long-term growth'

Wind OEM giant Vestas is planning 275 job cuts as it navigates a “highly volatile business environment”.

The wind group said 75 of the layoffs will occur in its home market of Denmark, with 45 of those at its blade development plant in Lem but gave no details of the other reductions.

A statement sent to Recharge said: “To strengthen our foundation and ability to protect our value creation and manoeuvre in the highly volatile business environment, we are adjusting our activities and organisational setup. This includes prioritising and postponing technology, IT and sales activities across Vestas.

“Unfortunately, the adjustment also includes an intention to reduce staff within specific areas and projects that are postponed or cancelled.”

Like other wind OEMs, Vestas is enduring turbulent conditions in the wind power market amid supply chain and logistics cost pressures, as well as shifts in demand to new markets.

Peers Nordex and Siemens Gamesa have both already announced job cuts this year in Europe and the US respectively.

Vestas itself last September announced plans to close three European factories in a move that placed a question mark over 650 jobs.

The Danish group – last year the only profitable wind OEM among the major western turbine makers – said in February that it will “prioritise value over volume” as it balances growth and profitability.

Vestas said of the latest layoff plans: “It’s always tough to let go of hard-working colleagues, but we must ensure that our organisation reflect our expected activity levels, to safeguard the right balance between 2022 priorities and long-term growth.”

Vestas employs more than 29,000 globally and around 5,900 in Denmark.


Source:https://www.rechargenews.com/…

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