Sponsored by Oregon Business

Vestas slashes jobs

| Print |  Email
Must Reads
Friday, January 13, 2012

Despite the company's recent growth, renewable energy industry woes hit Vestas this week, and the wind turbine maker plans 2,335 layoffs.

Vestas Wind Systems will cut about a tenth of its worldwide work force, slashing costs by $190 million before year's end. Layoffs will include 182 in the United States and Canada, including an undetermined number in Portland, where Vestas is a subsidized star in the city's green galaxy. Managers said another 1,600 Colorado factory jobs could be axed later this year if a federal tax credit for renewable energy is not extended.

Like SolarWorld, the German company with 1,000 workers in Hillsboro, Vestas is caught between low-cost competition from China and declining European subsidies for alternative energy. Europe's financial crisis compounds pressure, curbing power demand and raising the cost of credit.

The extent of the cuts appeared to catch Vestas' Portland office by surprise. On Tuesday, Vestas-American Wind Technology Inc., which employs nearly 400 in Portland, had issued an update reporting a strong 2011 sales year and describing plans to hire 150 for U.S. and Canadian sales and service.

Read more at OregonLive.com.

{biztweet}vestas{/biztweet}

 

Comments   

 
Dan Reid
0 #1 Electrical Windmill productionDan Reid 2012-01-16 11:14:28
Without government subsidies, this technology is a losing proposition! There are better ways to invest in technologies that actually are sound, proven and verifiable! The wind generation electricity is a "eco-friendly" hoax that is a waste of money!
Quote | Report to administrator
 

More Articles

Epitaph for a Boondoggle

April 2015
Friday, March 27, 2015
BY JOE CORTRIGHT

The CRC is a cautionary tale about how we plan for, finance and invest in transportation infrastructure.


Read more...

On the Road

April 2015
Friday, March 27, 2015
BY LINDA BAKER

My daughter turned 18 last week, and for her birthday I got her a Car2Go membership. Not to label myself a disruptor or anything, but it felt like a groundbreaking moment. The two of us, mother and child, were participating in a new teen rite of passage: Instead of handing over the car keys, I handed over a car-sharing card — with the caveat that she not use the gift as her own personal car service.


Read more...

Are wolves good for business?

Contributed Blogs
Friday, March 06, 2015
030615-wolf-thumbBY JEFF DELKIN | OP-ED CONTRIBUTOR

As a local business owner, I believe it’s important to build our economy on a platform of conservation values.  


Read more...

Thy neighbor's house

March 2015
Friday, February 20, 2015
BY LINDA BAKER | OB EDITOR

Vacasa may lack the name recognition of Airbnb. But not for long.


Read more...

Bike Chic: 7 stylish options for cyclists

April 2015
Thursday, March 26, 2015

Cycling to work is all the rage. But not everyone wants to arrive at the office messy, sweaty — and unfashionable.


Read more...

Help Wanted: Poached Jobs aids restaurateurs

March 2015
Friday, February 20, 2015
BY JACOB PALMER | OB DIGITAL NEWS EDITOR

“We thought there was room for something new.”


Read more...

Meeting Facilities Perspective

March 2015
Tuesday, February 24, 2015
BY KIM MOORE | OB RESEARCH EDITOR

A conversation with Donna Earley, director of sales and marketing for the Salem Convention Center.


Read more...
Oregon Business magazinetitle-sponsored-links-02
SPONSORED LINKS