Shell to Cut Hundreds of Jobs in Oil and Gas Exploration Operations
Friday, 30 August 2024, 08:32
Shell’s Strategic Job Cuts in Oil and Gas
Shell is making headlines as it announces a significant reduction in its workforce. The oil and gas company is set to eliminate hundreds of jobs in a bid to streamline operations.
Reasons Behind the Job Cuts
- The reduction involves about a fifth of employees in two major subdivisions.
- Chief Executive Wael Sawan is spearheading this cost-cutting initiative.
- Overall target is to slash up to $3bn in costs by the end of 2025.
Impact on the Energy Industry
This decision is emblematic of broader trends affecting the energy industry. Increased job losses in oil and gas companies reflect ongoing volatility in global commodities markets.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.