Vestas net income loss widens from stiff competition and market slowdown.
November 7, 2012
by ASSOCIATED PRESS
COPENHAGEN, Denmark — Vestas Wind Systems A/S, the world’s largest maker of wind turbines, plans to cut 3,000 more jobs.
Figures released Nov. 7 show its third-quarter loss almost trebled to $224 million amid stiff competition and a market slowdown.
The Denmark-based group says it will reduce the number of employees to some 16,000 by the end of 2013. That’s down from a little over 22,700 at the end of 2011.
Vestas said the new job cuts will mainly affect temporary employees.