{"id":2079036,"date":"2023-10-25T13:32:02","date_gmt":"2023-10-25T17:32:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/exclusive-shell-cuts-low-carbon-jobs-scales-back-hydrogen-in-overhaul-by-ceo\/"},"modified":"2023-10-25T13:40:07","modified_gmt":"2023-10-25T17:40:07","slug":"exclusive-shell-cuts-low-carbon-jobs-scales-back-hydrogen-in-overhaul-by-ceo","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/exclusive-shell-cuts-low-carbon-jobs-scales-back-hydrogen-in-overhaul-by-ceo\/","title":{"rendered":"Shell CEO announces job cuts and reduced focus on hydrogen in company overhaul."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">26<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fexclusive-shell-cuts-low-carbon-jobs-scales-back-hydrogen-in-overhaul-by-ceo%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2079036&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p><!DOCTYPE html PUBLIC \"-\/\/W3C\/\/DTD HTML 4.0 Transitional\/\/EN\" \"http:\/\/www.w3.org\/TR\/REC-html40\/loose.dtd\"><br \/>\n<?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><html><body><\/p>\n<div class=\"entry-content\">\n<p><strong>Breaking\u2062 News:<\/strong> Shell \u200bto Cut Workforce and Scale Back Hydrogen\u2063 Business<\/p>\n<p>LONDON (Reuters) \u2013 In a\u200c bold \u2062move to boost profits, Shell (SHEL.L) announced on Wednesday \u2063that it will be reducing its \u200dlow-carbon solutions division by at least 15%\u2062 and\u2064 making \u200bsignificant \u200cchanges to\u200b its hydrogen business. This \u200ddecision comes as part of \u200dCEO Wael Sawan&#8217;s strategy to revamp the company&#8217;s approach and \u200cfocus \u2064on higher-margin projects, steady\u200c oil output, \u200cand \u2064natural gas production.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-3\" style=\"min-width: 320px; min-height: 50px; text-align: center;\">  \t<script>  \t\tgoogletag.cmd.push(function() { googletag.display('div-gpt-ad-1663871513696-art-3'); });  \t<\/script>  <\/div>\n<div class=\"ad-slot__ad-label\">Advertisement<\/div>\n<\/p>\n<p>The \u200dworkforce reductions and\u200b organizational changes are a result of Sawan&#8217;s\u2064 commitment to \u200cstreamline Shell&#8217;s operations and prioritize projects with higher\u2062 profitability. The\u2064 company plans to cut \u200d200 jobs in 2024 and is reviewing an\u200c additional 130 positions. These changes will affect the low-carbon solutions division, which \u200bcurrently employs \u2064around 1,300 people. However, Shell aims to integrate some of these roles into other parts\u2062 of the company, which has \u2062a total workforce of over 90,000 employees.<\/p>\n<p>Shell stated, &#8220;We are transforming our Low Carbon\u2063 Solutions \u2064(LCS) business to strengthen its delivery on \u200bour core\u200b low-carbon business areas such as transport and industry.&#8221; The\u2062 company&#8217;s shares were down 0.2% following the announcement.<\/p>\n<p>The LCS operations encompass various businesses focused on \u200bdecarbonizing the transport and industry sectors, excluding \u200cthe renewable power business. \u200dShell\u2063 recently held town hall meetings with the LCS \u200ddivision \u2062to\u2064 communicate the job cuts and organizational \u2064changes. The carbon capture and storage and \u2062nature-based solutions businesses within the division will not\u2062 be affected by these cuts.<\/p>\n<p>One of the key areas of focus for the changes is Shell&#8217;s \u200chydrogen business. The company plans to scale back \u2064its \u2064hydrogen light mobility operations, which develop technologies for light \u200cpassenger vehicles, and shift\u2063 its focus to \u2063heavy\u2063 mobility and industry. As part of this restructuring, Shell will merge two \u2062general manager \u200broles in the \u200dhydrogen business.<\/p>\n<p>Shell&#8217;s decision to reduce its presence in the light mobility sector follows the\u200c departure \u200dof\u2064 Oliver Bishop, the former manager of the business. Bishop \u2062now\u200b leads BP&#8217;s global hydrogen mobility business. Shell has previously\u2064 invested in hydrogen-fueled cars but \u200bhas closed several hydrogen\u200b fuelling stations \u2064worldwide as consumer preference shifted towards\u2064 electric\u2064 vehicles.<\/p>\n<p>Despite these changes, Shell remains\u2062 committed to\u200c its\u2063 global\u2064 hydrogen portfolio and its efforts to address\u2063 commercial and technical challenges in scaling its Low Carbon Solutions business. The company emphasized that it will prioritize investments that have the highest chance \u200cof \u200bcreating value and reducing emissions.<\/p>\n<h4 class=\"wp-block-heading\">NET ZERO<\/h4>\n<p>Shell&#8217;s CEO, Wael Sawan, recently stated that\u2062 the company is adjusting its pathway to achieve its goal of \u2064becoming a net \u200czero \u2062carbon emitting company by 2050. Sawan clarified,\u200b &#8220;For avoidance\u2063 of doubt, what hasn&#8217;t changed is the\u200b destination that we \u200chave set for ourselves.&#8221;<\/p>\n<p>Shell faced internal pressure last month \u200cwhen two employees publicly \u2063urged Sawan not to reduce investments in renewable energy. This sparked an internal debate within the company. Shell, along\u200c with European\u2063 peers BP and TotalEnergies, has \u200cfaced investor concerns over future returns as they transition\u200b away from oil and gas \u2062production. In contrast, U.S. rivals Exxon \u200dMobil \u200dand Chevron have\u2062 increased their focus on <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/desantis-aims-for-2-gas-in-new-energy-video\/\" title=\"DeSantis targets  gas in energy video.\">fossil fuel \u2063production<\/a> through\u2064 large \u200bacquisitions.<\/p>\n<p>Reporting by Ron Bousso; editing \u200dby Jason Neely and Jan Harvey<\/p>\n<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-4\" style=\"min-width: 320px; min-height: 50px; text-align: center;\">  \t<script>  \t\tgoogletag.cmd.push(function() { googletag.display('div-gpt-ad-1663871513696-art-4'); });  \t<\/script>  <\/div>\n<div class=\"ad-slot__ad-label\">Advertisement<\/div>\n<p class=\"dpsp-share-text\" style=\"margin-bottom:10px\"> \t\t \t\tShare this post!\t<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>Congressman James Comer says the longer the GOP\u200c conference goes without electing a speaker<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>Tom\u2063 Emmer\u2019s \u200bHouse Speaker Bid \u200blasts\u200c hours while MSNBC pundit\u2064 Michael Cohen testifies against Trump.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>South Carolina Senator Tim Scott \u2064visits Chicago to speak to voters. <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>A new\u200d lawsuit\u2064 accuses NewsGuard of defaming \u200bConsortium\u2064 News.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>Microsoft\u200c is outstripping Alphabet in the race to make \u200bmoney from generative AI through early bets on OpenAI\u200b and\u2064 focus on \u200bbig clients.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>Apple \u2064increased \u200bthe subscription prices of Apple TV+ and Apple\u200d News+.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>Elon Musk said the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/the-new-acting-attorney-general-jeff-rosen-recently-wrote-an-essay-on-foreign-influence-in-us-elections-this-tells-us-a-little-about-his-knowledge-of-whats-going-on-today\/\" title=\"The New Acting Attorney General Jeff Rosen Recently Wrote an Essay on Foreign Influence in US Elections \u2013 This Tells Us A Little About His Knowledge of What\u2019s Going On Today\">social media platform<\/a> X will soon\u2062 launch two new tiers of premium subscriptions.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>Bitcoin \u2062jumped\u200d on\u200c Friday above $30,000 for first time\u200c since July,\u200b taking gains for the week past 10%.<\/p>\n<\/p><\/div>\n<p> rnrn  <\/p>\n<h2> What is the\u2062 reasoning behind Shell&#8217;s decision\u200b to reduce its workforce and scale back its hydrogen business?<\/h2>\n<p><span>  Breaking News:\u2062 Shell to Cut Workforce and\u200c Scale Back Hydrogen Business<\/p>\n<p>LONDON (Reuters) \u2013 Shell (SHEL.L) announced on Wednesday that \u2063it will be reducing its low-carbon solutions division \u2064by at least 15% and making significant changes to its hydrogen business \u2063in order to boost profits. This decision \u200bis part\u200c of CEO Wael Sawan&#8217;s strategy to revamp\u200d the company&#8217;s approach and focus on higher-margin projects, steady oil output, and natural gas production.<\/p>\n<p>The workforce reductions\u200c and\u200c organizational changes are a result\u2063 of Sawan&#8217;s commitment to streamline Shell&#8217;s operations and prioritize projects with higher profitability. The\u200c company plans\u200c to cut 200 jobs in\u200c 2024 and is reviewing\u2062 an additional 130 positions.\u200c These changes will primarily affect the low-carbon solutions division, which currently employs around 1,300 people. However, Shell aims to integrate some of these\u200c roles into other parts of the company, which \u200bhas a total workforce of over 90,000 employees.<\/p>\n<p>Shell stated that they are transforming their Low Carbon Solutions (LCS) business to strengthen its delivery on\u200b their\u200b core low-carbon business areas such as transport \u200dand industry. Despite\u2063 this announcement, \u2063the company&#8217;s shares \u200dwere only down 0.2%.<\/p>\n<p>The\u200c LCS operations encompass various businesses\u200d focused on decarbonizing the transport and industry sectors, excluding the\u200d renewable power business. Shell has <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/exclusive-shell-cuts-low-carbon-jobs-scales-back-hydrogen-in-overhaul-by-ceo\/\" title=\"Shell CEO announces job cuts and reduced focus on hydrogen in company overhaul.\">recently held\u200c town hall meetings<\/a> with the \u200dLCS \u200ddivision\u200c to communicate the \u2063job cuts \u2064and organizational changes. The carbon capture and storage and nature-based solutions businesses within \u200bthe division will not be affected by these cuts.<\/p>\n<p>One of the key areas of focus for the changes is Shell&#8217;s hydrogen business. The company plans to scale back its\u200b hydrogen light mobility operations, which develop \u200btechnologies for light passenger\u2062 vehicles, and shift its focus to heavy mobility and industry. As part of this restructuring, two \u200bgeneral manager roles in the hydrogen business will be merged.<\/p>\n<p>Shell&#8217;s decision to reduce its \u200cpresence in\u2063 the light \u2064mobility sector follows the departure of Oliver \u2064Bishop, the former manager of the business. Bishop now leads\u200d BP&#8217;s global hydrogen mobility business. Shell has\u2062 previously invested in hydrogen-fueled cars but has closed several hydrogen\u200b fuelling stations\u200b worldwide as consumer preference\u200d shifted towards electric vehicles.<\/p>\n<p>Despite these changes, Shell remains committed\u200c to its global hydrogen portfolio \u2064and its\u200c efforts to address commercial and\u2062 technical challenges in scaling its Low Carbon Solutions business. The company emphasized that it\u2064 will prioritize investments that have the highest chance of creating value and reducing emissions.<\/p>\n<p>Shell&#8217;s CEO, Wael Sawan, recently stated that the company is adjusting its pathway to achieve its goal of\u200c becoming a net-zero\u2062 carbon\u2064 emitting company by 2050. Sawan clarified, &#8220;For avoidance of doubt, what hasn&#8217;t changed\u200d is \u2063the destination that we have set for ourselves.&#8221;<\/p>\n<p>Shell faced \u2063internal pressure\u200c last month when two employees\u2063 publicly urged Sawan \u2062not to reduce investments in renewable \u200denergy. This sparked an internal debate within the company. Shell, along with other major energy companies, is under \u200dincreasing pressure to accelerate the transition to cleaner energy sources and reduce its carbon footprint.<\/p>\n<p>In conclusion, Shell&#8217;s decision to cut \u2063its workforce and\u200d scale back its hydrogen business \u2062reflects\u2062 the company&#8217;s\u200d focus on higher-margin projects and profitability. While these changes\u200d may impact \u200csome employees,\u2062 Shell remains committed to addressing the challenges of decarbonization and achieving its net-zero goals.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Shell announced on Wednesday that it will reduce its low-carbon solutions division&#8217;s workforce by at least 15% and downsize its hydrogen business. CEO Wael Sawan aims to enhance profits through these measures. These changes follow the given time and date.<\/p>\n","protected":false},"author":1911,"featured_media":2079037,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[542],"tags":[],"class_list":["post-2079036","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2079036","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1911"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2079036"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2079036\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2079037"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2079036"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2079036"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2079036"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}