Vestas Restructuring May Cut Jobs While Keeping Engel as CEO
This article is for subscribers only.
Vestas Wind Systems A/S tomorrow plans to announce organizational changes that may cut thousands of jobs at the world’s biggest wind turbine maker while preserving the position of Chief Executive Officer Ditlev Engel.
As many as 3,000 of Vestas’s more than 23,250 employees may lose their posts, said Jacob Pedersen, an analyst at Sydbank A/S. Vestas, based in Aarhus, Denmark, said on Nov. 9 that it wants to become a “leaner” company by reducing annual fixed costs by 150 million euros ($192 million).