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Investing.com -- Danish renewable energy company Orsted plans to reduce its workforce by 25% over the next couple of years as part of a strategic shift to focus on selected offshore and European markets.
The company will eliminate approximately 2,000 positions from its global workforce of around 8,000 by 2027. About 500 employees will be made redundant in the last few months of 2025, including 235 in Denmark.
Chief Executive Rasmus Errboe explained the decision: "This is a necessary consequence of our decision to focus our business and the fact that we’ll be finalizing our large construction portfolio in the coming years – which is why we’ll need fewer employees."
Errboe added that the company needs to reduce costs for developing, constructing, and operating offshore wind farms to strengthen competitiveness.
The workforce reduction will be achieved through natural attrition, position cuts, divestment, outsourcing, and redundancies.
The job cuts announcement comes just days after Orsted raised $9.4 billion from a share issue to fund current offshore wind-construction projects as the industry faces mounting headwinds.
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