New Delhi: Suzlon group firm REpower Systems SE Friday said it will slash up to 750 jobs worldwide as part of rejig plans aimed at trimming costs.
The business re-organisation plans will help the company to save 100 million euros in 2013-14, it said.
The move of Germany-headquartered REpower, a leading manufacturer of onshore and offshore wind turbines maker, comes against the backdrop of volatile business conditions.
In the course of re-organisation at REpower, "there will be up to 750 job cuts throughout the entire company," it said in a statement.
"This is a necessary but painful development... We plan to keep compulsory redundancies to a minimum," Repower Systems CEO Andreas Nauen said.
The company said the potential for cost savings are in the areas of purchasing, production and manufacturing.
The latest efforts of REpower Systems are aimed at having a more efficient and competitive company.
"Whilst the long term outlook for the sector remains strong, the mid term outlook is expected to remain uncertain and volatile, and we need to prepare for that," Nauen noted.
He also added that the cost cutting plans would prepare the company for "tomorrow's opportunities, particularly in the offshore segment".
REpower will work with employee representatives to find fair, socially acceptable solutions for those affected by the planned job cuts, Nauen said.
The count of "enforced redundancies is to be kept as low as possible by means of natural fluctuation, financial incentives for contract termination agreements and expiring fixed-term employment contracts," the statement said.
As per REpower Systems website, it has focus on markets such as France, Belgium, the UK, Sweden, Poland, Italy, Spain China and Canada.
Suzlon is a leading wind turbine maker.