VESTAS SLASHES THOUSANDS OF JOBS

Danish wind turbine maker Vestas will cut 2,335 jobs in a bid to restore profitability after rising costs wiped out its 2011 earnings. Vestas said the cuts, about a tenth of its workforce, would help it reduce costs by more than €150m (£125m) by the end of the year. The world’s biggest wind turbine maker is facing competition, particularly from China.