Shell's 2023 Windfall: Big Profits, Uneven Rewards

In 2023, Shell posted an enormous $316 billion in revenue and $19.3 billion in net income, underscoring its strong position in the global energy market. Employing around 87,000 people worldwide, Shell remains a significant force in the industry, both economically and operationally. These record-setting figures reflect the company’s ability to capitalize on high energy demand and execute strategic efficiencies. But behind these headline profits lies a critical and often overlooked issue: the disconnect between Shell’s financial success and the material benefits received by its workforce. Despite Shell’s billions in earnings, the majority of its global employees do not see a proportionate share of the company’s wealth. Labor unions and worker advocates have raised concerns over stagnant wages, cost-cutting measures, and growing precarity in contractor roles—even as executive compensation and shareholder returns remain high. This imbalance raises questions not just about corporate responsibility, but about how energy wealth is distributed in an era of global inequality. Shell’s 2023 performance may look like a triumph on paper, but the story for its workforce tells a far more complicated—and troubling—tale.