Wind Farm Giant Ørsted Cuts Jobs After Discovering Wind Is Less Effective Than Thought

The Telegraph article: Wind Farm Giant Ørsted Cuts Jobs After Discovering Wind Is Less Effective Than Thought' by Ed Clowes 5th January 2020, 9.30pm

The largest offshore wind farm developer in the world has laid off around 15 people from its business, and is currently weighing further cuts, as the company warns that wind might not be quite as effective as previously thought.

In October, Orsted’s share price fell by more than 7pc when it warned that its wind farms were producing less power than expected

Orsted made its UK managing director redundant at the beginning of December, in addition to two other senior executives, including Thyge Boserup, senior vice president of global development.

The Telegraph can reveal that Orsted is shifting its focus towards its corporate customers, resulting in the redundancies of around 15 employees in its Danish and German offices, as the wind farm operator mulls further cuts to its UK and Sweden offices.

“We are refocusing our business to continue our global expansion and as a result, we have had to make some changes to the management structure of some business units,” the company said. It added that some roles were “no longer consistent with this new focus.”

“Unfortunately, the changes mean that we have to say goodbye to some of our skilled employees.”

In October, Orsted’s share price fell by more than 7pc when it warned that its wind farms were producing less power than expected. The company blamed this dip in production on the fact that wind turbines block each others wind, thereby decreasing its efficiency.

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