Vestas

Type
Internal restructuring
Country
World
Region
Location of affected unit(s)
Danmark, Sweden, other locations
Sector
Manufacturing
Manufacturing Of Machinery And Equipment
Manufacture Of Machinery And Equipment N.E.C.
28 - Manufacture of machinery and equipment n.e.c.
3,000 jobs
Number of planned job losses
Job loss
Announcement Date
26 October 2010
Employment effect (start)
1 January 2011
Foreseen end date

Description

On October 27th, Vestas, a Danish wind turbines manufacturer, announced to cut 3000 jobs worldwide which accounts for 12% of its workforce. Denmark is the country most affected by the plan with 2000 redundancies. The job reduction measure includes the closing of five plants across Scandinavia due to excess capacity and decreasing order volume from Europe, according to the management.

Production is said to be shifted to Spain.

Sources

Citation

Eurofound (2010), Vestas, Internal restructuring in World, factsheet number 71184, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/71184.