Oct. 9 (UPI) -- The offshore wind farm company Orsted announced Thursday it plans to cut its workforce by roughly one-quarter by the end of 2027 as it redirects its business toward Europe and Asia.
Orsted said Thursday that as a number of offshore wind farms are finalized and come online in the next few years it needs to right size its workforce to match a decline in construction activities it expects to see.
"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," Rasmus Errboe, CEO of Orsted, said in a press release.
"At the same time, we want to create a more efficient and flexible organization and a more competitive Orsted, ready to bid on new value-accretive offshore wind projects," Errboe said.
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