"One of the world's biggest windfarm developers will cut its workforce by a quarter in the next two years after a series of setbacks for the industry. Danish wind giant rsted plans to remove about 2,000 positions from its 8,000-strong workforce by the end of 2027 through a combination of redundancies, natural attrition and selling off parts of its business."
"rsted boss Rasmus Errboe set out his plan to shrink the company weeks after the Trump administration caused its share price to plunge to an all-time low by ordering an immediate halt to work on a near-complete windfarm off the coast of Rhode Island. The developer, which is 50% owned by the Danish state, was forced to fundraise more than $9bn after the political hostility in the US made it more difficult to attract investors for its pipeline of projects."
rsted will remove about 2,000 positions—around one quarter of its 8,000-strong workforce—by the end of 2027 using redundancies, natural attrition and asset sales. The company plans 500 redundancies by year-end, including 235 in Denmark, and employs over 1,200 staff in the UK. The cuts follow a US-ordered halt to work on a near-complete Rhode Island windfarm that sent the share price to an all-time low. The developer, half-owned by the Danish state, raised more than $9bn after US political hostility reduced investor appetite. rsted also cancelled a major UK offshore project citing high inflation and soaring supply-chain costs.
Read at www.theguardian.com
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