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Vestas to cut 400 jobs, mostly in Europe

Key Points
  • Most of the intended staff reductions are expected to be from white collar positions.
  • The changes will lead to annual savings of around 30 million euros from 2019.

Denmark's Vestas Wind Systems intends to lay off around 400 employees, mostly in northern and central Europe, of its global workforce of more than 24,000 people, reflecting a shift in growth to markets outside of Europe, it said on Friday.

Most of the intended staff reductions are expected to be from white collar positions, and the changes will lead to annual savings of around 30 million euros ($35 million) from 2019, the wind turbine maker said in a statement.