Shell set to cut 20% of workforce in oil and gas divisions in effort to boost efficiency
(Bloomberg) – Shell Plc is set to cut around 20% of its workforce in some oil and gas exploration and development divisions as Chief Executive Officer Wael Sawan works to boost efficiency and profitability.
It’s the latest round of cuts following similar moves in the company’s deal-making team, as well as low-carbon solutions, chemicals and offshore wind. The staff reductions would affect the company’s exploration, strategy and portfolio segment as well as its development, subsurface and wells business, said a person familiar with the matter.
The proposed moves are pending engagement with groups that represent employees, the person said.
“Shell aims to create more value with less emissions by focusing on performance, discipline and simplification across the business,” a company spokesperson said by email.
The job cuts were first reported by Reuters.
