Shell set to fire 10,000 workers

Posted by News Express | 20 January 2016 | 9,625 times

Gmail icon

Oil giant Royal Dutch Shell PLC will fire 10,000 people in an effort to bolster margins in the face of declining revenues arising from falling oil prices.

“Shell’s drive to improve competitive performance is delivering at the bottom line,” says a Yahoo! News report.

According to the report, “Operating costs have reduced by $4 billion, or around 10% in 2015, and the company expects Shell’s costs to fall again in 2016 by a further $3 billion. Synergies from the BG combination will be in addition to that. Together, these actions will include a reduction of some 10,000 staff and direct contractor positions in 2015-16 across both companies, as streamlining and integration of the two companies continue.”

Source: News Express

Readers Comments

0 comment(s)

No comments yet. Be the first to post comment.

You may also like...