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Shell plans up to 9K job cuts in low-carbon transition

Shell plans up to 9K job cuts in low-carbon transition

Mubasher: Royal Dutch Shell on Wednesday said that it plans to cut up to 9,000 jobs, or over 10% of its workforce, as part of a major overhaul to shift the oil and gas giant to low-carbon energy, according to Reuters.

Shell, which had 83,000 employees at the end of 2019, added that the reorganisation will lead to more annual savings of about $2 billion to $2.5 billion by 2022, going partly beyond cuts of $3 billion to $4 billion announced earlier this year.

The Anglo-Dutch firm stated it expected to cut 7,000 to 9,000 jobs by the end of 2022, including some 1,500 people who have agreed to take voluntary redundancy this year.

“We have looked closely at how we are organised and we feel that, in many places, we have too many layers in the company,” Shell’s CEO, Ben van Beurden, said.

Moreover, the world’s largest fuel retailer noted it intends to lower the number of its refineries to less than 10 from 17 currently.

“If we want to get there, if we want to succeed as an integral part of a society heading towards net-zero (carbon) emissions, now is the time to accelerate,” van Beurden remarked.