European energy major Equinor said it is cutting 20% of the workforce, or about 250 jobs, in its renewable energy division due to continued economic challenges. The Norway-based company said […]

Norway's Equinor is trimming 20% 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 move mirrors similar actions by European rivals who have scaled back renewables to focus on more profitable ventures.

Equinor (NYSE:EQNR) will cut 20% of the staff from its renewable energy division and compete for a smaller number of new projects as it streamlines the unit, Reuters reported Thursday. The unit's workforce reduction would correspond to ~250 full-time job equivalents,