Shell will cut 200 positions within its low-carbon solutions unit in 2024, a spokesperson confirmed to CNBC on Wednesday.
The decision to downsize follows Shell's failure to secure a grant from the $7 billion of federal funding to develop hydrogen energy, which was distributed earlier this month.by 2050. The company will switch some of the jobs in question to other divisions within Shell's over 90,000-employee workforce, and an additional 130 roles will be put"under review" throughout 2024, said the spokesperson.
In the meantime, according to the spokesperson, Shell is planning $10-15 billion of low-carbon energy investment over the next two years, which will include biofuels, hydrogen,The 10 U.S. states where Americans leave the best—and worst—tips