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Wind turbine maker Siemens Gamesa said Thursday it plans to slash 2,900 jobs worldwide, or about 11 percent of its total workforce, as part the company's efforts to boost its profitability.
Europe will bear the brunt of the job cuts, with Siemens Gamesa set to slash 800 positions in Denmark, 475 in Spain and 300 in Germany, the German-Spanish company said in a statement.
"Details for all affected countries will be defined in negotiations with the workers' councils," it said.
The company currently lists 27,000 employees on its website.
"It is never easy to make such a decision, but now is the time to take decisive and necessary actions to turn the company around and ensure a sustainable future," said Siemens Gamesa CEO Jochen Eickholt.
"We need to build a stronger and more competitive Siemens Gamesa to secure our position as a key player in the green energy transition."
Siemens Energy, the parent company of Siemens Gamesa, in May launched a bid for the roughly one-third stake in the wind turbine maker which it does not already own to take it private.
The wind turbine maker posted heavy losses in the first quarter due to higher logistics and metals costs, prompting Siemens Energy in April to revise downwards its forecasts for 2022.
Siemens Gamesa said it was working to "strengthen specific areas" in leading markets to "capitalize on its strong market position in offshore".
Despite its planned job cuts, the firm said it expected to add staff "in growth areas within the company over the coming years."
Related Links
Wind Energy News at Wind Daily
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