Offshore wind farm developer Orsted is to cut a quarter of its global workforce by the end of 2027 after years of expansion.
The Danish firm said it was axing 2,000 staff, making 500 redundant by the end of the year, including 235 in its home market.
Orsted has 1,200 staff in the UK, but did not break down job cuts per country.
It said as well as redundancies it would look to cut its workforce through staff turnover, outsourcing and selling off divisions.
Orsted said a number of big projects are set to finish soon, and it needed to become more competitive.
The firm has just raised 59.56 billion Danish kroner (£6.93 billion) through an investor cash-call to boost its capital structure and support projects.
Its shares have been hit by US President Donald Trump’s row back from renewables and net zero aims.
Job cuts: Offshore wind developer Orsted said it was axing about 2,000 roles out of its 8,000-strong workforce, with plans to make around 500 staff redundant by the end of the year
Rasmus Errboe, chief executive of Orsted, said the group needed to be “more efficient and flexible”.
He said: “This is a necessary consequence of our decision to focus our business and the fact that we’ll be finalising our large construction portfolio in the coming years – which is why we’ll need fewer employees.
“At the same time, we want to create a more efficient and flexible organisation and a more competitive Orsted, ready to bid on new value-accretive offshore wind projects.”
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