Equinor has announced a 20% reduction in its global renewables workforce, equivalent to approximately 250 full-time roles. However, the company expects the actual number of redundancies to be significantly lower, with affected employees at the parent company being offered alternative positions in other business areas.
The majority of Equinor's renewables activities focus on offshore wind, though onshore wind and solar divisions will also experience staffing reductions.
A company spokesperson attributed the move to broader challenges in the renewables sector, particularly in offshore wind, which they described as being in its “first real downturn.” Key issues over the past 18 months include inflation, rising costs, elevated interest rates, and supply chain bottlenecks, all of which have pressured profit margins.
“This also affects our renewables business, and we have to reduce costs and position for long-term profitable growth,” the spokesperson added.
Equinor's restructuring reflects wider industry struggles as companies adapt to changing economic conditions while maintaining commitments to clean energy development.
