The Biden economy has meant most of us are taking a beating but that group includes Big Wind. Inflation makes everything cost more, as does demand, and false demand for wind energy coupled with other factors have made the business anything but profitable . Siemens Gamesa [the Spanish renewable spin-off of German parent Siemens Energy] plans to cut about 4,100 jobs from its wind turbine division as the company continues to restructure its business.
The downsizing, reported May 28 by Reuters, impacts about 15% of the company’s workforce. The news service said the layoffs were noted in an internal letter to staff from CEO Jochen Eickholt. The cuts were expected after the company reported a €4.6 billion ($4.9 billion) loss in 2023, triggered by the suspension of sales for two wind turbine models. Rising costs have resulted in a growing number of canceled developments, as the price guarantees required […]
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