In a drive to boost the company’s profitability, Shell, an oil and gas company, has decided to eliminate 15 percent of job roles in its low-carbon solutions division. This decision will affect approximately 200 roles by 2024, with an additional 130 job roles under review. The aim of this initiative is to reduce the headcount within the low-carbon solutions division, which currently employs around 1,300 individuals.
Shell’s primary objective is to enhance its performance in key low-carbon sectors, such as transportation and industry. The low-carbon division at Shell is dedicated to clean energy, leading the company toward environmentally friendly energy sources such as hydrogen. Additionally, the company intends to prioritise projects that yield higher profits, maintain a consistent level of oil production, and expand natural gas production.
This decision is part of a broader restructuring plan initiated by Shell’s CEO Wael Sawan, in line with the company’s commitment to becoming a ‘net-zero emissions energy business’ by 2050. It is also a strategic response to the company’s unsuccessful attempt to secure a portion of the $7 billion in federal funding for hydrogen energy development, which was distributed earlier this month.
Shell, officially known as Royal Dutch Shell, is a multinational energy company headquartered in the Netherlands and incorporated in the United Kingdom. It stands as one of the world’s largest oil and gas corporations, with operations across various segments of the energy industry, including oil and gas exploration, production, refining, marketing, and a growing focus on clean energy and low-carbon solutions.