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The company reorganises to increase customer focus and earnings and to reduce investments required for future growth.
Vestas will reduce its fixed costs by more than EUR 150m - with full effect as from end of 2012 - primarly through streamlining of support function and closing of factories to align capacity with market demand. A total of 2335 employees are expected to be made redundant.
In addition to the planned layoffs of 2335 employees in the coming months, Vestas prepares for a potential slowdown in the US in case the president Production Tax Credit (PTC) is not extended. This can result in lay off of an additional 1600 employees at plants in the US. The potential savings in this respect will be in addition to the more than EUR 150m mentioned above.
More information: www.vestas.com