Another 1,400 jobs facing axe at Vestas

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The Independent Online

The Danish wind turbine maker Vestas is to cut 1,400 more jobs to save €100m (£79m), as it battened down the hatches for another difficult year in 2013.

"As it looks today, 2013 is probably going to be the toughest year that the wind industry has seen for a number of years," its chief executive Ditlev Engel said.

Production problems and delays in delivering projects wiped out profits last year and caused a shake-up in top management with the replacement of the chief financial officer and chairman and appointment in July of rationalisation expert Jean-Marc Lechene as chief operating officer.

Vestas lowered its forecast for shipments of turbines this year to around 6.3 gigawatts from an earlier prediction of about 7 GW and said it expected to cut its workforce to about 19,000 by the end of 2012.

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