in News Departments > New & Noteworthy
print the content item

In an interim financial report Tuesday, Denmark-based energy group DONG Energy revealed plans to lay off between 350 and 400 employees in the next few weeks. The company says the job cuts are part of an ongoing strategy to streamline operations and remain competitive.

According to the report, DONG Energy's first-half 2013 revenue increased by 2% compared with the first half of 2012, and EBITDA rose by DKK 1.2 billion. Profit for the period fell by DKK 0.3 billion.

“The first-half financial performance is a positive step in the right direction for DONG Energy. The group’s earnings (EBITDA) are 18 percent ahead of the first half of 2012,” comments Henrik Poulsen, CEO of DONG Energy.

He says that the increase was mainly driven by cost reductions and earnings from the company’s new offshore wind farms: the 630 MW London Array in the U.K. and the 400 MW Anholt project in Denmark. The company’s Wind Power earnings rose by DKK 0.9 billion in the first half.

Regarding the job cuts, Poulsen explains they are part of DONG Energy’s 2020 strategy announced in February. 

“In the first half, we put in place a variety of measures to streamline and improve the efficiency of the group’s structure and processes,” he says. The initiatives are expected to reduce costs by DKK 0.3 billion in 2014.

Poulsen refers to the layoffs as “a difficult, but unfortunately also necessary, process to improve DONG Energy’s competitiveness in an energy sector that is undergoing an extensive and challenging transformation of both energy systems and business concepts.”

The report did not specify which of the group's businesses would be affected by the layoffs.




Helukabel_id1908
Latest Top Stories

Bird Groups Target LEEDCo's Icebreaker Offshore Wind Pilot

Two bird conservation groups that helped halt a wind project earlier this year argue that Lake Erie Energy Development Corp.'s (LEEDCo) 18 MW offshore demo poses a major risk to regional wildlife.


Report Disputes U.S. Agency's Renewable Energy Projections

A new analysis from the Sun Day Campaign says renewables are slated to provide 16% of U.S. generating capacity by 2018 - over 20 years earlier than forecast by the Energy Information Administration.


Kansas Renewables Mandate Survives Yet Another Attack, But Is It Too Early To Celebrate?

Over the past three years, some legislators have tried to either weaken or repeal the state's renewable portfolio standard, which requires Kansas utilities to reach 20% renewables by 2020.


AWEA Highlights U.S. Wind Success Stories Of 2013

Despite a 92% drop in new capacity last year, the sector still has myriad reasons to celebrate, according to a new report from the American Wind Energy Association.


Feds List New Bird Species As Threatened - Should Wind Developers Be Worried?

The U.S. Fish and Wildlife Service is designating the lesser prairie-chicken as threatened under the Endangered Species Act. An expert explains how this might affect the wind industry.

Acciona_id1907
JLG_id1900
UEA_id1896
WomenofWind_id
AWEA_id1886
bonfiglioli_id1913