Ørsted plans to lay off approximately 500 employees by the end of this year and a total of 2,000 by late 2027. Of the 500 job cuts in Q4 2025, about 235 will occur in Denmark.
On October 9, Ørsted announced the workforce reduction as part of its strategy to focus on offshore wind and the European market. Several offshore wind farms are set for completion in the coming years, prompting the company to boost competitiveness, influencing the decision to cut jobs.
The offshore wind developer employs around 8,000 people worldwide. By 2027, Ørsted aims to reduce its workforce to about 6,000 through natural attrition, position cuts, divestments, outsourcing, and redundancies.
“Towards the end of 2027, the organization will be rightsized in parallel with the decline in construction activities,” Ørsted stated in a press release on October 9.
This move aligns with Ørsted’s updated business plan and strategic priorities. Several initiatives, including a recent rights issue, were launched to fortify the company’s position in 2028. The strategy includes focusing on offshore wind in Europe and select Asia-Pacific markets.
After implementing efficiency measures, Ørsted expects to achieve annual cost savings of approximately DKK 2 billion (around EUR 268 million) from 2028.
“We’re committed to completing our 8.1 GW construction portfolio across three continents – Ørsted’s largest to date. We’re building a more financially robust and competitive company with solid earnings that will grow as projects finish. Ørsted will be stronger, more focused, and competitive, thanks to our skilled employees,” said Rasmus Errboe, Ørsted’s CEO.
The company’s rights issue raised nearly EUR 8 billion, primarily for the 924 MW Sunrise Wind project in the US. Ørsted’s US projects have faced challenges due to global macroeconomic conditions and changing offshore wind policies by the federal government.
In 2024, Ørsted revealed a significant revision of its plans, including a reduced 2030 renewable energy target, job cuts, market exits, and a “leaner development” approach for floating offshore wind and Power-to-X.
Earlier this year, Ørsted announced it would reduce its investment program by around 25% by 2030 to maintain a capital structure supporting a solid investment-grade credit rating.
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