COPENHAGEN (Reuters) - Vestas VWS.CO said on Monday it will lay off around 400 employees and halt certain research and development projects with immediate effect as a result the economic impact of the new coronavirus outbreak.
“We’re in a period of high uncertainty and by making a strategic decision on our product portfolio and reduce complexity, we sustain our competitiveness in the future and ensure we can adjust quickly to COVID-19 challenges,” Chief Executive Henrik Andersen said in a statement.
The layoffs will mostly affect staff in Denmark, Vestas said.
(This story corrects headline and para 1 to say Vestas will halt certain R&D (not wind farm) projects)
Reporting by Jacob Gronholt-Pedersen; editing by David Evans
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