Shell PLC (LSE:SHEL, NYSE:SHEL) is poised to lay off hundreds of staff in its low-carbon wing as part of cuts being implemented by new chief executive Wael Sawan.
Some 200 roles in the oil giant’s roughly 1,300-strong low-carbon solutions team are set to face the axe, with a further 130 being put under review.
Many of these could be integrated into other roles within the company, reports said, with roles in Shell’s hydrogen transport unit set to be mainly affected.
“We are transforming our low-carbon solutions business to strengthen its delivery on our core low-carbon business areas such as transport and industry,” a spokesperson said.
“In line with these principles, we are simplifying the business structure and reducing the head count.”
The cuts come as part of sweeping changes being implemented by Wael Sawan, who was appointed to head up the company in January.
Though Shell said the company’s carbon capture and renewable energy projects will be unaffected, the changes come after Sawan appeared to scale back on climate-centred plans in favour of more profitable oil and gas.
Shareholders seem to be in favour though, with the share price having risen to an all-time high earlier this month.