Vestas Cuts 1,400 Jobs After Forecasting Drop in Shipments
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Vestas Wind Systems A/S is cutting an additional 1,400 jobs to lower costs by more than 250 million euros ($311 million) in preparation for a decline in wind turbines installations it expects next year.
The world’s biggest maker of the machines said it expects to have 19,000 employees at the end of the year, down 16 percent from the end of last year. It announced 2,335 cuts in January and is still considering whether to eliminate 1,600 jobs in the U.S., which depend on a tax credit that expires this year.