Market Chatter: Equinor to Reduce Renewable Energy Unit Staff by 20%

MT Newswires Live11-22 04:00

Equinor (EQNR) is reducing its renewable energy unit's staff by 20%, equivalent of nearly 250 full-time jobs, Reuters reported Thursday, citing a company spokesperson.

Some of the staff from the unit will reportedly be offered other roles within the company.

The company has exited some markets and reduced its business development activities to prioritizing existing markets, the spokesperson told the publication.

Equinor did not provide detailed information on staff cuts by country, but confirmed Polish Wento and Danish BeGreen units are not affected, the media outlet reported.

The company will participate in fewer tenders and auctions, focusing on building three major offshore wind projects: Dogger Bank in the UK, Empire Wind 1 in the US, and Baltyk 2 and 3 in Poland, the spokesperson reportedly added.

Equinor did not immediately respond to a request for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 24.90, Change: +0.34, Percent Change: +1.41

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