Vestas boss Henrik Andersen has hinted that there may be more layoffs to come for the turbine manufacturer, as the company posted record revenues of almost €19bn.
In November Vestas moved to cut its global office-based workforce by 900 people, and Andersen said the company is not done yet.
“The right-sizing of Vestas if of course painful, but on the other hand it is also needed,” he told analysts on a fourth quarter earnings call.
“Therefore its not the last time you will hear (about this), because the continuation of this is not a project way of thinking.
“We are not finished simplifying,” he added.
“We’ve just started, and scratched the surface,” Andersen said and told analysts to expect more efficiency announcements in the coming quarters and years.
The move comes as part of the OEM’s ‘Operating Model Reset’ efficiency drive, which Andersen said flows from a realisation that the company had become unwieldy.
“Customers told us throughout the last year that in some ways we’ve become too complex, too difficult to talk to,” he said.