Norway's Equinor cuts 20% of staff at its renewable energy division [Globe and Mail, The (Toronto, Canada)]
Equinor ASA (EQNR)
Last equinor asa earnings: 2/6 12:43 am
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Source: Globe and Mail, The
increase is trimming 20 per cent of the staff from its renewable energy division and will compete for a smaller number of new projects as it streamlines the business unit, the company told Reuters on Thursday. The global offshore wind sector, in which Equinor is a significant player, has faced setbacks in its efforts to reach lofty targets, driven by cost inflation, high interest rates and supply bottlenecks, companies and industry insiders have said. Equinor's retreat mirrors similar moves by European rivals Shell and BP, which in recent months scaled back operations in renewables and low-carbon operations as they focus on the most profitable businesses. “We have decided to reduce the number of people working with renewables in Equinor,” a company spokesperson said, adding that the division's workforce reduction corresponded to some 250 full-time job equivalents. The size of the cutbacks has not previously been reported. However, the number of people leaving the group woul
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News
- Norway's Equinor Cuts 20% of Renewable Energy Staff [Yahoo! Finance]Yahoo! Finance
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- 10/24/24 - Beat
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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