Job cuts planned at global offshore wind player Corio
Developer looking to reduce headcount 'to remain efficient and focused'
Offshore wind developer Corio Generation confirmed it is looking at job cuts “to ensure it remains efficient and focused on delivery of projects”.
Corio was created in 2022 by global investment giant Macquarie as a pure-play offshore wind developer to build a presence spanning Europe, Asia and the Americas.
It was swiftly hit by inflation and supply chain pressures that afflicted the rest of the industry, and although it remains “positive about the long-term outlook for the offshore wind sector” a spokesperson confirmed it is looking to reduce headcount.
"As with many companies in the offshore wind sector, we are making some organisational changes to ensure Corio remains efficient and focussed on the delivery of our projects in our key markets.
“As a result of these changes, a small number of roles will be leaving the organisation subject to consultation with affected individuals," said the spokesperson for the London-based developer, which is led by CEO Jonathan Cole.
Around 10GW of Corio's portfolio could potentially enter construction by the end of the decade but like other development-stage projects in the sector will need significant investment to bring into service.
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