Vestas

Type
Internal restructuring
Country
Denmark
Region
Danmark; Midtjylland;
Location of affected unit(s)
Århus, Lem
Sector
Manufacturing
(28) Manufacture of machinery and equipment
28.1 - Manufacture of general-purpose machinery
28.11 - Manufacture of engines and turbines, except aircraft, vehicle and cycle engines
400 jobs
Number of planned job losses
Job loss
Announcement Date
20 April 2020
Employment effect (start)
20 April 2020
Foreseen end date

Description

The Danish windmill producer Vestas, announced on 20 April 2020, it will cut 400 positions due to the economic effects of the COVID-19 pandemic. The company has also informed that the management will have a wage decrease of 10% until the end of 2020. The redundancies will primarily affect locations in Denmark, while a limited number of redundancies will perhaps hit other locations in Europe.

The company's CEO explained that the business is in a period of high uncertainty, and by making this strategic decision, the company will maintain competitiveness in the future.

Vestas has around 5,000 employees in Denmark and around 24,300 worldwide.

Sources

Citation

Eurofound (2020), Vestas, Internal restructuring in Denmark, factsheet number 100381, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/100381.