Vestas to cut 600 jobs in UK after "losing faith" in local market (plus 1200 in Denmark)

[Dogmudgeon]

Ouch.

http://www.newenergyfocus.com/do/ecco.py/view_item?listid=1&listcatid=32&listitemid=2564§ion=Wind">Vestas to cut 600 jobs in UK after "losing faith" in local market

The world's largest wind turbine manufacturer, Vestas, is set to axe up to 625 jobs in its UK operations, with the possible closure of its Isle of Wight factory.

...

Despite suggesting the worst of the Credit Crunch was now beginning to pass for the wind industry, Vestas chief executive Ditlev Engel told investors and the press yesterday that Vestas' business is now slowing in Europe, where 49% of the company's employees are based.

...

Commenting on the job cuts, which will also see 1,275 lay-offs in Denmark, Mr Engel said: "We have seen different developments over the last number of months which unfortunately have meant we have to reduce our staff and investments in the Denmark and the UK.

"Vestas has always been running under the device (device = motto --d) - and will continue to do so - ‘people before megawatts' and therefore I am personally very sad that we have to say goodbye to a lot of good people who have done a tremendous effort for Vestas, but unfortunately the overall market development means we have no other choice," explained the Vestas chief executive.

http://www.newenergyfocus.com/do/ecco.py/view_item?listid=1&listcatid=32&listitemid=2564§ion=Wind">There's more.

This is short-sighted. Only France (nuclear) and Germany/Austria (hydro) can really afford to slow down on wind energy development. Giving up on so much of a market is going to come back to haunt them, especially with Gamesa nipping at their heels. (Providing that Abengoa is still expanding -- that's the next company I check.)

The good news is that they anticipate growth in the North American and Chinese markets, especially once credit starts flowing again.

--d!
(edit: The big Spanish wind energy company is Gamesa, not Abengoa. ¡Lo siento!)