Danish offshore wind energy giant Orsted announced Thursday plans to cut 2,000 jobs, or a quarter of its workforce, by 2027 as its business struggles in the United States.

The company said it needed to focus more on its European business and offshore wind, as well as improve its competitiveness.

“We’re committed to maintaining our position as a market leader in offshore wind, and we need to ensure that offshore wind becomes a key element of Europe’s future energy mix and green transition,” chief executive Rasmus Errboe said in a statement.

“Therefore, we also need to reduce our costs for developing, constructing, and operating offshore wind farms to strengthen our competitiveness,” he added.

The company said its global workforce would fall from 8,000 today to 6,000 by the end of 2027 “

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