Shell’s sustainable energy division will lose nearly 200 jobs next year. A spokesperson for the energy giant confirmed this, according to a report by Reuters news agency. Additionally, 130 more positions are being examined.
Shell says it is too early to tell whether there will be job losses in the Netherlands: its Low Carbon Solutions division currently employs 1,300 people. Shell emphasizes that more employees in other parts of the company are working on alternative energy development.
According to Shell, when making a layoff, it will be examined whether the position can be integrated into another sector. Shell, which made record profits due to rapidly increasing energy prices, is now struggling with the consequences of falling oil and gas prices.
oil production
Shell doesn’t want to move away from fossil fuels too quickly to maintain profits. Chief Executive Wael Sawan this summer reversed a decision to cut oil production by 2030.
Shell told NOS it will invest between $10 billion and $15 billion in new energy projects over the next two years. Investments will only be made in technologies that “have the best chance of creating value and reducing CO2 emissions.”
Source: NOS
Roy Brown is a renowned economist and author at The Nation View. He has a deep understanding of the global economy and its intricacies. He writes about a wide range of economic topics, including monetary policy, fiscal policy, international trade, and labor markets.
