Ørsted plans to cut a quarter of its workforce by the end of 2027

Danish company Ørsted, which focuses on building and operating renewable energy sources, plans to cut its workforce by a quarter by the end of 2027. It needs to improve its competitiveness and will refocus on Europe. The company announced the move today in a press release. A total of 2,000 of the company’s current 8,000 jobs are expected to be eliminated.

The company is facing unfavourable market conditions. The administration of US President Donald Trump has restricted the development of wind power in the United States.

Chief Executive Rasmus Errboe said the company would complete major construction projects in the coming years and would therefore need fewer employees. It also wants to create a more efficient and flexible organisation. He stressed that the aim is to prepare the company for new offshore wind projects. Ørsted wants to retain its position as a market leader in offshore wind and support the development of the sector as an important part of Europe’s energy transition.

The strategy also includes reducing the costs of developing, building and operating wind farms to strengthen the company’s competitiveness in the international market. The company now plans to focus on development in Europe and some Asian markets. It currently has construction projects on three continents—America, Asia and Europe.

About 500 employees are expected to leave the company by the end of this year, including around 235 in Denmark.

Ørsted specialises mainly in offshore wind farms, where it is one of the world’s leading companies. The state owns a 50.1 per cent stake in the company.