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Vestas axes staff
 Wind turbine manufacturer Vestas has signalled plans to axe up to 2335 staff across manufacturing sites in Europe as part of a strategic reorganisation.
“The planned lay-offs will to a large extent take place in Denmark and the rest of Europe. However, the scope of the planned reorganisation implies that several sites across the global Vestas organisation will be impacted by the planned lay-offs, in particular in relation to salaried employees,” Vestas declared today.
Fixed cost savings of €150 million (US $190.89 m) are planned by Vestas as part of a cut back which will see streamlining of support functions and the closure of factories, “....to align capacity with market demand,” Vestas declared. “A total of 2,335 employees are expected to be made redundant.”
While those staff are to be laid off by the end of this year, the company says its executive management team will be expanded to six: “...to allow greater functional focus on all key parts of the value chain and to drive a stronger performance management.”
Vestas says it will establish a global solution services unit aimed at improving performance at existing and future wind power plants. Manufacturing is being “...consolidated to capture cost synergies an [to] reduce capital required for future growth,” as well as “...to increase flexibility in case of a prolonged industry slowdown.”
Also Vestas warned it might lay off another 1,500 staff at production plans in the US if a production tax credit system is not extended.
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Aker group grows value Norwegian industrial group Aker ASA says it value rose 16% in the first quarter to NOK 22.5 billion (US $3.74 bn) as its investments – mainly in oil and gas operations rose in value.
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