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Vestas to cut 400 jobs globally

Staff Writer | September 29, 2018
Danish wind-turbine manufacturer Vestas will lay off approximately 400 employees globally, with some 75 percent being in northern and central European markets, in a bid to adapt to changing markets, it announced Friday.
Energy   Vestas is seeing a shift in growth
"Vestas is seeing a shift in growth from more traditional wind markets to high-growth markets primarily outside of Europe. Accordingly, this requires Vestas to shift its global footprint to ensure costs are balanced with activity levels," Vestas said in a press statement.

The redundancies will mostly affect white collar staff, with approximately 60 percent of those being in Denmark and Germany.

Vestas added its production capacity is relatively unaffected by these layoffs and will have no impact on its ability to deliver on current and future orders.

However, Vestas' factory in Hammel of Denmark intends to cut approximately 80 jobs, as part of Friday's announcement and of Vestas' continuous optimisation of its manufacturing footprint, the statement said.

The organizational changes will lead to annual savings of approximately 30 million euros from 2019.

Vestas employed 24,300 people globally as of June 30, 2018, making this staff reduction represent approximately 1.6 percent of Vestas' global workforce.