Shell’s new chief executive is poised to cut hundreds of jobs from the oil giant’s low-carbon division as part a plan to boost the company’s profits.
Wael Sawan plans to shrink the number of staff working on low-carbon solutions by around 200 next year, after vowing to shift Shell’s focus towards
high-profit oil projects and expanding its gas business when he became chief executive in January.
Shell managers reportedly told staff in the division last week that they will also consider culling a further 130 roles from the business unit, which in total would represent a 25% cut from the low carbon solutions team.
The low-carbon team is focused on the transport and heavy industry sectors, but it does not include staff working within Shell’s renewable power business.
The job cuts are expected to target those developing solutions for hydrogen-powered light vehicles. Shell was an early adopter of the technology, which has fallen from favour as the popularity of electric vehicles has grown