VWDRY - Vestas Wind to shed 450 jobs in Colorado on lower near-term demand

Vestas Wind (VWDRY) says it will cut 450 jobs in Colorado, as it consolidates its U.S. footprint due to lower near-term market demand and the need to improve efficiency.Vestas will consolidate blades production to the Windsor Blades factory and repurpose the Brighton Blades site into a North American headquarters for its global tooling business, consolidating from six dispersed smaller locations.The move means Vestas will end blades production at the Brighton Blades factory, with the loss of 280 jobs.Vestas employs more than 29K people globally, including 4,500 in the U.S., where the company will continue to maintain four sites in Colorado.Vestas has a record order backlog, and benefits from long-term service revenues as customers prefer dealing with OEMs, providing a sticky long-term revenue stream, The Global Investor says in a bullish analysis recently published on Seeking Alpha.

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Vestas Wind to shed 450 jobs in Colorado on lower near-term demand