Shell Fires 10,000 Workers

By Douglas A. McIntyre
Yahoo.com
January 20, 2016

As its fortunes collapse due to falling oil prices, Royal Dutch Shell PLC (RDS-B) will fire 10,000 people in an effort to bolster margins.

Shell’s drive to improve competitive performance is delivering at the bottom line. 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.

The Rest…HERE

This entry was posted on Thursday, January 21st, 2016 at 2:08 pm and is filed under Economics, Oil. You can follow any responses to this entry through the RSS 2.0 feed.