In its continued quest to save costs, Vestas says it intends to sell one of its buildings in Aarhus, Denmark, and relocate a number of its commercial functions and employees to Copenhagen. The company's headquarters and CEO office will remain in Aarhus.
The turbine maker claimed the end of its two-year turnaround program – which included a 30% workforce cut and plant closings – in February. However, Vestas says its new ‘Profitable Growth for Vestas’ strategy includes initiatives to ‘improve operational excellence,’ such as site consolidation and simplification of the company's geographical footprint.
The commercial functions selected for relocation include global sales, global marketing, communications and corporate relations, and finance (excluding IT). All 200 or so employees working in the affected functions will be offered to relocate to Copenhagen.
Vestas says the relocation is expected to begin in April and be finalized by year-end. The company expects the move will increase its flexibility, free up cash and generate savings of approximately EUR 10 million annually.