The Danish wind turbine giant LM Wind Power, owned by the American GE Vernova, is preparing a cutback, where two-thirds of the Danish employees stand to lose their jobs. In total, 59 out of the current 90 Danish employees can expect to be dismissed. At the same time, the company is giving up developing new, larger blades for the wind turbines of the future, as the technology race for larger turbines has stopped, the letter says. This is reported by Ingeniøren.
According to a letter from the company's management, which the media has in its possession, the layoffs are due to a pressured market, where customers have either cancelled orders or moved production to their own factories. At the same time, customers will not pay prices that make it possible to run a profitable business, the letter states.
"The market for blades is simply no longer what it used to be. Customers have canceled orders and/or moved volume to internal factories," the letter states, according to Ingeniøren.
LM Wind Power, headquartered in Kolding, has supplied blades to Vestas, among others, for many years. The company has been hit hard by financial challenges in recent years. In 2024, the company had to lay off 177 out of 275 employees, and the year ended with a loss of DKK 2.6 billion. Subsequently, the then CEO, Hanif Mashal, was fired.
Today, LM Wind Power employs less than 60 employees in Lunderskov and even fewer in Kolding - and with the new round of layoffs, the number will soon be even lower. When the company was at its peak in Denmark, there were 2,000 employees in Lunderskov. In addition to Denmark, companies have factories in Poland, Brazil and India.
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