GE Vernova (NYSE:GEV) said it plans to cut the size of its offshore wind business, a move that could result in the elimination of 900 jobs around the world, Reuters reported Thursday. GE Vernova (GEV) cited cost inflation and supply chain challenges that have hurt the wind sector over the last year,

GE Vernova Inc. may cut about 900 jobs globally as it moves to shrink its offshore wind business. In a proposal to a group that represents European employees, GE Vernova said Thursday it intended to transform its offshore business globally into a smaller,

The company, a spinoff from General Electric, has been plagued by financial losses in its wind unit and, more recently, accidents involving the failure of turbine blades.

The company’s aim is to focus to return its offshore wind business to profitability and integrate it into GE Vernova’s wind segment, as per its previously announced turnaround strategy.

France looks set to bear the brunt of GE Vernova’s plans to cut the size of its offshore wind operation, with unions there warning the move poses a threat to the future development of the nation’s energy sector.

GE Vernova has announced plans to downsize its offshore wind division, cutting approximately 900 jobs worldwide.

GE Vernova, which has significant operations in Schenectady, says it will have up to $35 billion in 2024 revenue.