Shell Plans to Cut Thousands of Jobs Amid Shift to Carbon Neutrality: What Investors Need to Know
To say it's been an off-year for big oil would be an understatement. Shockwaves of volatility and lower energy demand have rippled through global markets. An added threat is the increasing role of renewables in the energy mix as wind and solar companies continue to gain market share -- and oil companies lose it.
In an effort to get on board with addressing climate change, Royal Dutch Shell (NYSE: RDS.A) (NYSE: RDS.B) and other European majors like BP, Total, and Equinor are ramping up their commitments to reducing carbon emissions. For Shell, this means a restructuring that is expected to eliminate 7,000 to 9,000 jobs by the end of 2022. Here's what that could mean for investors.
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Source Fool.com