Sep 30, 2020

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

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. The move comes five months after it cut its dividend for the first time since World War Two. Rival BP has also cut its dividend and recently announced it was cutting 10,000 jobs out of its global workforce of 70,000. "We have had to act quickly and decisively and make some very tough financial decisions to ensure we remained resilient, including cutting the dividend," said chief executive Ben van Beurden.

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