The western Denmark-based group says the job cuts of 1,400 workers will help it reduce fixed costs by more than
euro250 million ($310 million) as it deals with stiff competition and a market slowdown. It was not immediately clear where the ax would fall, but Vestas has already announced some lay-offs in the United States. In January, the company trimmed its workforce by 2,335 jobs worldwide. It currently has 20,400 staff.
Wednesday's announcement came in conjunction with Vestas' second-quarter earnings report which showed a net loss of
euro8 million, down from a profit of euro55 million in the same period last year.
[Associated
Press]
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