Management Team

Juan Araluce becomes chief sales officer and Anders Vedel will be in charge of turbines. The new CFO and a new person to head up a services division will complete the team, which comes into place on Feb. 1.“We believe replacing the CFO to be a wise move,” Rupesh Madlani, an analyst in London at Barclays Capital said in a note to investors. “The market had been disappointed over the last year at the lack of financial details and two profit warnings in a quarter from the company. We therefore view this change to be particularly positive.” UGG Boots Australia A total of 1,749 of the posts to be lost will be in Europe, with 1,300 of those in Denmark, according to the statement. In the U.S., 182 workers will lose their posts, with 404 job losses in China and the rest of the world. Vestas will stop producing at its tower factory in Varde, western Denmark, it said.Vestas has spent more than $1 billion building four plants in Colorado. About 900 work at plants making nacelles and blades in Brighton, Colorado. The company has hired almost 700 people in the U.S. and Canada in the past eight months. Vestas said it will decide about the size of the U.S. staff later this year.“The expected layoffs are one of many steps that we now take in order to bring down costs,” Engel said. The changes are necessary “in order to prepare for a market with low growth and increased competition.”In the U.S., a further 1,600 jobs may be cut later this year if lawmakers don’t extend the so-called production tax credit, Vestas said. The credit gives an incentive of 2.2 cents a kilowatt-hour of wind power.Vestas slashed 3,000 jobs in October 2010, and 1,900 in April 2009. After the latest round of cuts, its workforce will number about 20,400.