Vestas to cut 450 US jobs amid lower short-term demand By Reuters

COPENHAGEN (Reuters) – Vestas said on Wednesday it would reduce its production capacity in the United States, which means cutting 450 jobs at three factories in Colorado, as the company cited lower demand in the short term. “With a larger fleet in service and lower demand in the near term, we are consolidating our setup in Colorado,” Chief Operating Officer Tommy Nielsen said in a statement. Vestas shares were down 1.28% at 1334 GMT Copenhagen. The world’s largest wind turbine maker is betting on the big US market, as the new Biden administration has touted the need for clean energy sources and the need to re-enter the United States in the Paris climate agreement. This month CEO Henrik Andersen told Reuters he “couldn’t be more excited about the prospects” in the United States. The company continues to have four production sites in the United States, its largest market by revenue, he said. Vestas expects to offer new roles in other parts of the business to 150 of the affected employees.

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