Vestas cutting another 3,000 jobs

| Print |  Email
Must Reads
Thursday, November 08, 2012

Vestas Wind Systems plans to sell a 20% stake and cut another 3,000 jobs, more than doubling the number of cuts by 2013.

The world's biggest wind turbine-maker said Wednesday that its third-quarter loss widened to 175 million euros ($225 million), compared with a loss of 60 million euros in the year-ago period. Analysts had forecast net income of 20 million euros, according to a Bloomberg survey.

Vestas, struggling to return to profit as overcapacity has squeezed margins, will trim its workforce to 16,000 by the end of next year, versus 22,721 in 2011, bringing its annual fixed cost savings to 400 million euros by the end of 2013. The company did not provide a regional breakdown of the job cuts.

Read more at OregonLive.com.

{biztweet}vestas{/biztweet}

 

More Articles

Reader Input: Energy Overload

June 2015
Wednesday, July 15, 2015

We asked readers to weigh in on the fossil fuel-green energy equation.


Read more...

Best Foot Forward

July/August 2015
Monday, July 13, 2015
BY CHRIS NOBLE

Whether you're stepping out to work or onto the track, Pacific Northwest shoe companies have you covered.


Read more...

Car be gone

Linda Baker
Thursday, August 06, 2015
070615car2goblogthumbBY LINDA BAKER

Car and ride sharing services have taken urban areas by storm. Low-income and suburban communities are left at the curb.


Read more...

Grain Food

September 2015
Wednesday, August 19, 2015
BY JACOB PALMER

A Power Lunch at Bob's Red Mill Whole Grain Store and Restaurant.


Read more...

Photo log: Murray's Pharmacy

The Latest
Friday, July 17, 2015
OBM-Heppner-Kaplan thumbBY JASON KAPLAN

Photographer Jason Kaplan takes a look at Murray's Pharmacy in Heppner.  The family owned business is run by John and Ann Murray, who were featured in our July/August cover story: 10 Innovators in Rural Health Care.


Read more...

Unshakable

September 2015
Wednesday, August 19, 2015
BY BRIAN LIBBY

Ben Kaiser holds his ground.


Read more...

Reader Input: Fair Play

May 2015
Wednesday, July 15, 2015

Former Governor John Kitzhaber's resignation in February prompted some soul searching in this state about ethical behavior in industry and government.


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