Reduction of about a fifth of workforce in two subdivisions part of plan to slash up to $3bn in costs by end of 2025
The cuts at Shell are understood to be subject to consultation with employees and will affect jobs around the world.The cuts at Shell are understood to be subject to consultation with employees and will affect jobs around the world.Shell is to cut hundreds of jobs from its oil and gas exploration operation in the latest move by the chief executive, Wael Sawan, to slash up to $3bn in costs by the end of next year.
The cuts, which were first reported by Reuters, are understood to be subject to consultation with employees in offices around the world. However, offices in Houston and The Hague are expected to be affected most, with a lesser impact on its UK operations. “That includes delivering structural operating cost reductions of $2bn-$3bn by the end of 2025, as announced at our capital markets day event in June 2023. Achieving those reductions will require portfolio high grading, new efficiencies and a leaner overall organisation.”
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