Company/Organisation:
Vestas
Geographic Location
Country:
World
Location of affected unit(s):
Europe, the Middle East, Africa, Asia Pacific and the Americas
Company
Sector:
Manufacturing
Manufacture of machinery and equipment n.e.c.
28.11 - Manufacture of engines and turbines, except aircraft, vehicle and cycle engines
Number Employed:
21100
Employment Effects
Announcement Date:
07-11-2012
Planned Job Reductions min:
4400
Planned Job Reductions max:
4400
Type of Restructuring:
Internal restructuring
Employment Effect Start:
01-10-2012
Foreseen End Date:
31-12-2013
Additional Information
Danish wind turbine producer Vestas announced plans to cut up to 4,400 jobs across the world, most of which in Europe, Middle East and Africa.
These new cuts come on top of cuts announced earlier this year: in January 2012, the company announced a reduction of 2,335 jobs (see here). The new cuts were announced in August 2012 (1,400 job cuts) and November (3,000 job cuts). Most jobs will be lost in Europe, the Middle East and Africa (55%), but branches in the Asia Pacific (25%) and the Americas (20%) will also be affected by the cuts.
The company stresses that some reductions will happen through divestments, meaning that employees might maintain their jobs under a different employer.
Is is reported that these redundancies are the response to reduced public subsidies for wind power and fierce competition in the market.
Sources:
22-08-2012Financial Times
09-11-2012Financial Times
22-08-2012Vestas (press release)
07-11-2012Vestas (press release)
Sources Links:
http://www.vestas.com/en/media/news/news-display.aspx?action=3&NewsID=3181
http://www.vestas.com/en/media/news/news-display.aspx?action=3&NewsID=3144
http://www.ft.com/intl/cms/s/0/ecf80026-2a59-11e2-a137-00144feabdc0.html#axzz2DVkwgPUf
http://www.ft.com/intl/cms/s/0/2d876de8-ec2f-11e1-81f4-00144feab49a.html#axzz2DVkwgPUf