Shell announce plans to cut up to 9,000 jobs following sharp fall in oil demand
Royal Dutch Shell has today revealed plans to cut up to 9,000 jobs across the world following a huge fall in oil demand due to the coronavirus pandemic. More than 83,000 people are employed by the firm worldwide.
Since the pandemic struck, the firm reported first quarter losses of more than £2.3bn.
The job cuts at the oil giant will happen over an 18 month period. More than 6,000 people are employed by the company in the UK.
1,500 of the jobs losses have come from current employees taking voluntary redundancy before the end of the year.
Royal Dutch Shell CEO Ben van Beurden said: “We have had to act quickly and decisively and make some very tough financial decisions to ensure we remained resilient, including cutting the dividend. But as hard as they were, they were entirely the appropriate choices to make. And COVID-19 has hit us in another way. We have, very sadly, lost six employees and six contractor colleagues to the virus.
“It is very painful to know that you will end up saying goodbye to quite a few good people. But we are doing this because we have to, because it is the right thing to do for the future of the company.”