Oil and Gas Group Shell Will Cut 7,000 to 9,000 Jobs
The British-Dutch oil and gas group Shell will cut 7,000 to 9,000 jobs worldwide by the end of 2022.
With a reorganization, the company wants to save 2 to 2.5 billion dollars annually. Like other major oil companies, Shell is suffering badly from the corona crisis.
Worldwide, 7,000 to 9,000 of Shell’s 83,000 employees will have to leave in the coming years. 1,500 employees have already voluntarily agreed to a severance scheme, the company says.
The layoffs are part of a reorganization with which the British-Dutch company wants to save 2 to 2.5 billion dollars annually.
Like other major oil companies, Shell is suffering from the corona crisis. The oil price has fallen sharply, and there is less demand for fuel, mainly due to the stoppage of a lot of (air) traffic.
This summer, Shell announced a historic quarterly loss: from April to June, the company was in the red for more than $ 18 billion. Also, the outlook remains unfavourable.