Senvion to slash 780 jobs
Lay-offs part of forthcoming strategic review of business
Wind turbine manufacturer Senvion has announced plans to cut about 780 jobs globally to improve its competitiveness.
The job losses will mainly affect its facilities in Husum, Trampe and Bremerhaven in Germany, it said.
The company plans to implement a restructuring programme to identify excess costs and opportunities to reduce production overcapacity. It will also invest in research and development, new technologies as well as the quality of its products and services.
Company managers will meet with employees’ representatives as soon as possible to start negotiations, it said.
The program is part of Senvion’s overall strategy, which management will detail when the company presents its 2016 financial results. Senvion already announced plans during its initial public offering to boost operating results.
The program will put the manufacturer on a path of profitable growth in a difficult environment, it said.
"Wind turbine makers are under strong price pressure and dealing with a shift in demand from established markets to growth regions in South America and Asia," it said.
"There is no alternative to decisive changes in order to secure the long-term competitiveness of our company with 4,100 employees”, chief executive Jürgen Geissinger added.