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Chill winds hit Vestas 3,000 jobs to go

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Chill winds hit Vestas 3,000 jobs to go

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Danish turbine maker Vestas is to axe 3,000 jobs after poor orders battered third-quarter profits.

The sector has been fighting overcapacity, rising costs and government budget cuts.

Markets have called on the company to raise cash something the Vestas disagrees with.

Shares fell some 14 percent to a three-month low as an ill wind blows through the company.