Shell cuts 200 jobs in renewable energy branch

Shell is cutting 200 jobs in its sustainable energy branch, the group reported. The oil and gas company will also scale back its hydrogen activities.

The intervention fits with new CEO Wael Sawan’s aim to increase Shell’s returns. At the start of this year, Sawan succeeded the Dutchman Ben van Beurden as CEO of Shell. Under Van Beurden, Shell significantly expanded its green energy activities. Sawan believes that the transition to sustainable energy sources is not happening fast enough to simply move away from oil and gas.

Shell will cut 200 jobs next year in the Low Carbon Solutions (LCS) division - 15 percent of the total. The division focuses on decarbonizing the transport and industrial sectors. Shell managers organized several meetings with LCS staff last week to announce the plans.