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2013 will be "even tougher" for Vestas

Danish wind turbine manufacturer Vestas has announced that it is intensifying its cost reduction plans in order to prepare for a challenging 2013. It will also cut more jobs.

Vestas has announced an increase in its expected fixed cost reduction to €250 million from the figure of €150 million it earlier stated. It says this is based on a forecasted shipment of around 5 GW of wind turbines in 2013, which will result in a significantly lower activity level for the company next year.

Vestas had previously announced that its workforce would be reduced by 2335 by the end of 2012. It says these reductions are ahead of schedule and to reach that number 1100 employees will be made redundant by the end of September 2012. Further employees will then be made redundant before the end of the year bringing the total number of employees down to around 19 000 by the end of 2012.

“The further reduction in the workforce is part of the continued cost saving plans which Vestas has been working on since November 2011,” reports Vestas CEO Ditlev Engel.

“It is always unfortunate to have to say goodbye to good colleagues in Vestas, but we have said before that 2012 will be tough and 2013 will be even tougher for Vestas, and in order to reach our target of making 2013 profitable, it is unfortunately a necessity.”

The job cuts will primarily affect salaried employees. Vestas expects that around 55% of the reductions will happen in Europe, the Middle East and Africa, around 25% in Asia Pacific, and around 20% in the Americas.

 

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