Shell will cut 200 jobs in clean energy division
Publishing timestamp: 2023-10-25 12:34:25
Summary
Shell will be cutting 200 positions within its low-carbon solutions unit in 2024. The company will switch some of the jobs to other divisions within Shell, while an additional 130 roles will be put "under review" throughout 2024. This decision comes after Shell failed to secure a grant for hydrogen energy development. Despite its commitment to becoming a "net-zero emissions energy business" by 2050, Shell's bottom line still relies on oil and gas. The company is planning to invest $10 billion to $15 billion in low-carbon energy over the next two years.
Sentiment: NEGATIVE
Keywords: layoffs, business news, personnel, breaking news: technology, energy, oil and gas, labor economy, climate, london, shell plc, chevron corp, pollution, environment, exxon mobil corp,
Source: https://www.cnbc.com/2023/10/25/shell-will-cut-200-jobs-in-its-low-carbon-division.html