Pros:
– Potential boost in profits for Shell
– Focus on core business operations
– Prioritizing short-term financial gains
– Streamlining operations for increased efficiency
Cons:
– Step backward in environmental commitments
– Reduction in low-carbon jobs
– Scale back in hydrogen business, a potential renewable energy source – Negative impact on the fight against climate change
– Damage to Shell’s reputation as an environmentally responsible company
Shell’s low-carbon solutions division, represented by SHEL.L on the stock market, is set to undergo significant changes under the leadership of CEO Wael Sawan. In an effort to improve profitability, the company plans to reduce its workforce at the division by a minimum of 15%. Additionally, Shell will scale back its hydrogen business as part of this strategic realignment.
