Vestas posts higher profits, to cut 1,900 jobs

Vestas A/S, the world's biggest maker of wind turbines, posted a 70 percent rise in first-quarter earnings but said it would lay off 1,900 workers, primarily in Denmark and Britian, because of sluggish demand in northern Europe.

Net profit in the first three months of the year was euro56 million (US$73 million), up from euro33 million in the same period last year. Sales increased to euro1.1 billion, from euro701 million a year ago.

Vestas said it shipped a total of 490 wind turbines, up 21 percent from the first …