Vestas lays off 400, halts some wind farm projects

COPENHAGEN (Reuters) – Vestas said on Monday it will lay off around 400 employees and halt certain wind farm projects with immediate effect as a result the economic impact of the new coronavirus outbreak.

“We’re in a period of high uncertainty and by making a strategic decision on our product portfolio and reduce complexity, we sustain our competitiveness in the future and ensure we can adjust quickly to COVID-19 challenges,” Chief Executive Henrik Andersen said in a statement.

The layoffs will mostly affect staff in Denmark, Vestas said.

(Reporting by Jacob Gronholt-Pedersen; editing by David Evans)