Shell Plans To Cut 15% Of Low-Carbon Jobs: Report

(RTTNews) - Shell plc (SHEL) is planning to cut 15 percent of its low-carbon solutions division jobs and to scale back its hydrogen business, reported Reuters on Wednesday.

Wael Sawan, CEO reportedly intends growth in profits through job cuts and strategic changes.

According to Reuters Shell will trim 200 jobs in 2024 and will be reviewing another 130 jobs. The company has been in discussions to suggest changes in its hydrogen business. It is now planning to merge four general manager roles in this sector.

In the pre-market, shares on NYSE are slightly up at $66.93.