Oil giant shell plans to cut 9000 jobs

category:Finance
 Oil giant shell plans to cut 9000 jobs


On September 30, shell announced that it would cut 7000-9000 jobs by the end of 2022, Reuters reported. This includes a previously announced voluntary departure plan for 1500 employees.

Shell said it was part of the companys low-carbon transformation strategy.

According to shells official website, chief executive benvan beurden said the company currently has too many levels and wants to eliminate the complexity of the companys organization and hierarchy and reduce costs.

Shell said the job cuts would help it save $2 billion to $2.5 billion a year. At the beginning of the year, shell announced that it would cut costs by $3 billion to $4 billion this year.

The global epidemic of Xinguan has reduced the consumption demand of global oil and gas energy, and brought a huge blow to the operation of large multinational oil companies.

In the first half of this year, shell had a net loss of US $18.155 billion, down 302% year-on-year. In the same period last year, shell made a profit of 8.999 billion US dollars,

Shell said in its earnings report that the huge loss included $16.8 billion in write downs, which reflected the fall in oil and gas prices under the impact of the new crown epidemic and the macroeconomic impact.

In March this year, Saudi Arabia launched an oil price war with Russia, which directly led to a sharp drop in the international crude oil price, and even once fell into a negative value.

In the first half of this year, BP, shell, total, Chevron, ExxonMobil and ConocoPhillips lost 54.572 billion US dollars (about 380.972 billion yuan) in the first half of this year.

At the end of May, Chevron, an American oil giant, announced that it would voluntarily leave the company and lay off 10% - 15% of its staff worldwide in order to reach the expected level of activity.

According to Chevron spokesman Veronica Flores Paniagua, Chevron plans to cut 4500-6750 jobs, most of which will take place within the year.