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Gamesa to Cut 20% of Its Workforce to Return to Profit

Gamesa Corp. Tecnologica SA, Spain’s biggest maker of wind turbines, said it will cut 20 percent of its workforce in a strategy aimed at reducing its size through 2015 and returning it to profit next year.

It will cut 1,800 jobs by March after having eliminated 800 positions since December, according to a statement from the company today. Gamesa expects turbine sales totaling 1.8 gigawatts to 2 gigawatts, compared with an estimate for 2 gigawatts this year.