Dec 7, 2012 - Danish Vestas Wind Systems A/S (CPH:VWS) said Thursday that it will cut 158 jobs at home in December 2012.
The move concerns 137 blue-collar and 21 white-collar workers.
The layoffs are part of the company's previously announcing cost-cutting plan, which aims to reduce the workforce to some 18,000 at the turn of 2012 from 22,700 at the beginning of the year.
In November, Vestas said that it planned to cut its workforce to about 16,000 by the end of 2013 from the expected 18,000 by end 2012 or early 2013, via divestments, continued hiring freeze and layoffs. The company is thus preparing for a lower level of shipments.
In the third quarter, Vestas saw its after-tax loss widen to a worse-than-expected EUR 175 million (USD 223m), hit by write-downs. Revenue rose 49% to EUR 1.99 billion.