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Vestas is seeing a shift in growth from more traditional wind markets to high-growth markets primarily outside of Europe. Accordingly, this requires Vestas to shift its global footprint to ensure costs are balanced with activity levels. Vestas therefore intends to lay off approximately 400 employees across its global organisation, with approximately 75% being in markets in northern and central Europe.
As of June 30th, Vestas employed 24,300 people globally, making this staff reduction represent approximately 1.6% of Vestas’ global workforce. Most of the intended staff reductions are expected to be within white collar staff, with approximately 60% of those being in Denmark and Germany. The production capacity is relatively unaffected by these layoffs. Vestas’ factory in Hammel, Denmark intends to reduce its staff by approximately 80 employees. The factory, which produces wind turbine converters, will increase its focus on introducing new products by maintaining and developing core capabilities within this field, including prototype building, testing and documenting. The organisational changes will lead to annual savings of approximately EUR 30m from 2019.
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