Another Renewable Energy Company Layoffs

May 30, 2024

Renewable energy companies continue to struggle to produce profits, causing downsizing. One example is the German wind turbine producer Siemens Energy are planning to lay off 4,100 workers.

Reuters  reports:

“Siemens Energy’s wind turbine division Siemens Gamesa is planning to cut 4,100 jobs, or around 15% of its workforce, the unit’s Chief Executive Jochen Eickholt said in an internal letter to staff”

This mirrors a general trend of negative growth in the wind turbine industry,

“Our current situation demands adjustments that go beyond organizational changes. We have to adapt to lower business volumes, reduced activity in non-core markets, and a streamlined portfolio,”’ said Eickholt.”

Despite massive subsidies and tax breaks from the government, renewable energy still cannot compete with the fossil fuel industry in the free market. It is time for the Biden administration to wake up. The government’s support of inefficient renewable energy companies hurts all Americans by driving up prices in the oil and gas industry.