Shell to cut up to 9,000 jobs as oil demand slumps

Shell Image copyright Getty Images

Royal Dutch Shell has said it plans to cut 7,000 to 9,000 jobs worldwide following the collapse in global oil demand due to the coronavirus pandemic.

The oil giant said the cuts would be implemented by 2022 and included 1,500 people who were taking voluntary redundancy.

It gave no indication of where the job losses would happen.

The move comes five months after it cut its dividend for the first time since World War Two.

Shell, which employs 83,000 people worldwide, has been hit by a substantial drop in profits since the pandemic struck.

It saw a 46% fall in first-quarter net income to $2.9bn (£2.3bn), while second-quarter income fell 82% to $638m.

Leave a Reply