Danish wind giant Orsted to cut workforce by a quarter / Photo: Thomas Traasdahl - Ritzau Scanpix/AFP/File
-
Last MotoGP race at Phillip Island cancelled due to weather in Marquez setback
-
Comeback kings Brewers down Rays to take 2-0 World Series lead
-
Sri Lanka seeks faster green energy shift after oil shocks
-
Sri Lankan turbine project fuels anger as fish hauls plunge
-
Riyadh airport resumes flights following Houthi attacks
-
No LeBron, no problem as Sixers roll on
-
'Call of Duty' North Korea invasion edition tops sales charts in South
-
Israel to close all land crossings with West Bank on election day
-
Musk accuses Ukraine of violating Starlink's terms of service
-
'Tech debt coming due': AI-found flaw signals chaos ahead
-
Fed expected to hold rates steady days ahead of US midterms
-
Stop-motion 'Wildwood' showcases 'human creativity' in AI age
-
More Lula, or back to the Bolsonaros? Brazil votes in cliffhanger
-
New Guide Titled "Gold Proof Coins vs Uncirculated Coins: Are Gold Proof Coins a Good Investment" Released
-
Expo Contratista Announces 10th Edition in Dallas, Spotlighting Latino Construction Businesses and Workforce Development
-
7 Creative Things to Do With Your Backyard
-
Easy Fitness Routines You Can Do at Home
-
HKA Enterprises is Powering the Skilled Trades That Are Moving the U.S. Economy Forward
-
Obama blasts Trump's 'chaos and cruelty' while campaigning for Democrats
-
Jorge Martin out of Australian MotoGP with fracture: team
-
Bolsonaro leads Lula in final Brazil election polls
-
Antonelli storms to US Grand Prix pole on weekend he can take title
-
Antonelli storms to pole for US Grand Prix
-
Apologetic Alvarez fires Atletico to win against Deportivo
-
Alvarez fires Atletico to win against Deportivo
-
Lens beat PFC in Ligue 1 matchday impacted by social unrest
-
Japan's Nakai wins Grand Prix de France for second straight year
-
Valkyries hit back against Dream to level WNBA Finals
-
Ronaldinho to make comeback in Italian third tier
-
'Fighting for our rights': Paris protesters determined to march on
-
Israeli forces displace Hebron families after deadly attack
-
Clashes break out in Paris, other French cities amid fresh protests
-
Hamilton on top with Antonelli fourth in final practice at US Grand Prix
-
Spurs seal rare win at Chelsea as Palmer sees red
-
Beier late show sends Dortmund top of Bundesliga
-
Nearly 1,000 arrested in French protests marred by 'elevated' violence: minister
-
Police and protesters clash again at Albanian anti-government rally
-
France extends detention of suspected racist shooter
-
Arteta hails mentality as Arsenal go level with Man City
-
Andrade and Nemour star as Biles cheers at world gymnastics champs
-
Clashes break out in Paris, other cities amid fresh protests
-
Nigeria's Tinubu defends record as economy bites ahead of election
-
Bouthier kicks Vannes to first Top 14 win of season
-
'Guiding star' Fuellkrug bags Bremen brace, Leipzig win
-
Thousands rally for Lula and Bolsonaro on eve of tight Brazil vote
-
Man City's perfect start ended by Aston Villa, Arsenal go joint-top
-
Red-hot Fuellkrug bags Bremen brace, Leipzig win
-
Arsenal sink Everton to join Man City at Premier League summit
-
Thousands gather at new Albanian anti-government rally
-
France protests: Latest developments
Danish wind giant Orsted to cut workforce by a quarter
Danish offshore wind energy giant Orsted announced Thursday plans to cut 2,000 jobs, or a quarter of its workforce, by 2027 as its business struggles in the United States.
The company said it needed to focus more on its European business and offshore wind, as well as improve its competitiveness.
"We're committed to maintaining our position as a market leader in offshore wind, and we need to ensure that offshore wind becomes a key element of Europe's future energy mix and green transition," chief executive Rasmus Errboe said in a statement.
"Therefore, we also need to reduce our costs for developing, constructing, and operating offshore wind farms to strengthen our competitiveness," he added.
The company said its global workforce would fall from 8,000 today to 6,000 by the end of 2027 "through natural attrition, a reduction of positions, divestment, outsourcing, and redundancies."
Orsted said Monday it had raised $9.4 billion in a rights issue aimed at bolstering the struggling company amid US President Donald Trump's opposition to the wind power sector.
E.Hall--AT