Equinor to cut renewables workforce due to offshore wind challenges [Yahoo! Finance]
Equinor ASA (EQNR)
Last equinor asa earnings: 2/6 12:43 am
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Source: Yahoo! Finance
The company will compete for fewer new projects as it streamlines operations. The move mirrors similar actions by European rivals such as Shell and BP, which have scaled back renewables to focus on more profitable ventures. Equinor plays a significant role in the global offshore wind sector but has recently faced setbacks due to cost inflation, high interest rates and supply bottlenecks. "We have decided to reduce the number of people working with renewables in Equinor," a company spokesperson stated, noting that the reduction equates to approximately 250 full-time jobs. The size of the cutbacks has not been previously reported, but the actual number leaving will be lower and those directly employed by the parent company will be offered alternative roles in other business areas. "We have exited some markets and prioritised existing ones," the spokesperson added. In early 2024, Equinor abandoned offshore wind activities in Vietnam, Spain, Portugal and France, and scaled ba
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News
- Reasons to Retain Equinor Stock in Your Portfolio for Now [Yahoo! Finance]Yahoo! Finance
- Equinor ASA (NYSE: EQNR) was downgraded by analysts at StockNews.com from a "strong-buy" rating to a "buy" rating.MarketBeat
- Norway's Equinor Cuts 20% of Renewable Energy Staff [Yahoo! Finance]Yahoo! Finance
- Norway's Equinor cuts 20% of staff at its renewable energy division [Globe and Mail, The (Toronto, Canada)]Globe and Mail, The
- Oil prices firm as geopolitical tensions raise supply concerns [CNBC]CNBC
EQNR
Earnings
- 10/24/24 - Beat
EQNR
Sec Filings
- 11/20/24 - Form 6-K
- 11/19/24 - Form 6-K
- 11/19/24 - Form 6-K
- EQNR's page on the SEC website