Beleaguered wind farm operator Orsted announced Thursday that it intends to reduce its workforce by a quarter toward the end of 2027, in a bid to become more competitive and refocus its efforts on Europe.

Shares were 0.7% higher in European trade on Thursday. The stock came under pressure earlier this year amid concerted efforts from the White House to reduce renewable energy generation in the United States. Stock Chart Icon Stock chart icon

Orsted share price

On his first day in office , U.S. President Donald Trump signed an executive order suspending new or renewed onshore and offshore wind leases. He also told reporters earlier this year that during his presidency, America was "not going to do the wind thing."

Over the summer, the Trump administration ordered Orsted to hal

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