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11/7/12

Denmark: Vestas slashes 1,400 more jobs following huge loss

Vestas announced it would be cutting a further 1,400 jobs in addition to the 2,335 job cuts revealed at the start of the year.

In total Vestas expects to make 3,700 staff redundant in 2012. Having let 1,000 of these staff go already, the firm says the remaining job losses will be split geographically as follows: 55% in Europe and Africa, 25% in Asia Pacific and 20% in Americas.

Vestas said it was making the additional job cuts in order to ensure it remained profitable in 2013, when it expects a significant drop in shipments to 5GW. Meanwhile, it has revised its full-year shipments expectation for 2012 down from 7GW to 6.3GW, blaming "a lower order intake in the first half year and delays of grid connections in China".

Chief executive Ditlev Engel said: "The further reduction in the workforce is part of the continued cost saving plans which Vestas has been working on since November 2011.

Read more: Vestas slashes 1,400 more jobs following huge loss | Windpower Monthly

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