Vestas Cuts U.S. Jobs by 20% Awaiting Tax Credit Decision

http://www.bloomberg.com/news/2012-10-12/vestas-cuts-u-s-jobs-by-20-percent-awaiting-tax-credit-decision.html

Vestas Wind Systems A/S (VWS), the world’s biggest maker of wind turbines, has cut about a fifth of its U.S. jobs as it waits for lawmakers to decide whether to extend a tax credit for the industry. 

The reduction has taken its workforce in the U.S. and Canada to about 2,600 employees from more than 3,400 at the beginning of the year, the Aarhus, Denmark-based company said today in a statement on its website, which added more detail to an announcement made late yesterday. 

The cuts came even though Vestas had its “busiest year ever in the U.S. and Canada by supplying wind turbines to more than 20 new wind power projects,” Martha Wyrsch, president of Vestas’s Americas unit, said in the statement. “However, the U.S. wind industry has slowed, largely due to the uncertainty surrounding the federal Production Tax Credit extension.”