The company is “very intentionally taking a step back” to evaluate its strategy on offshore wind as blade failures at Vineyard Wind and another project contribute to a likely $300 million loss, CEO Scott Strazik said.

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.

GE Vernova ( GEV) cited cost inflation and supply chain challenges that have hurt the wind sector over the last year, but it also has suffered delays to two major projects it is supplying - Vineyard Wind in Massachusetts and Dogger Bank in the U.K. - because of incidents involving its turbine blades.

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

The company has faced scrutiny after one of its offshore wind blades fractured this year at a Massachusetts array.

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,