Thursday, January 12, 2012

Vestas Wind Systems says it will lay off over 2,300 people worldwide and warned that an additional 1,600 jobs in the U.S. could be at risk if Congress doesn't extend tax breaks for renewable energy. The Denmark-based company says 182 of the jobs will be cut in the United States. In 2010, Vestas was awarded about $51 million in federal tax credits in the U.S., where it has invested more than $1 billion in four facilities in Colorado. The U.S. operations are headquartered in Portland, Oregon. Vestas is the world's biggest maker of wind turbines in terms of revenue. The company says the layoffs are part of efforts to reduce fixed costs by more than $191 million as it deals with tough competition and a market slowdown following the global recession in 2008-2009.

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