NEW YORK: British oil and gas company Shell has begun cutting hundreds of jobs to optimize its project portfolio and improve efficiency of t...
NEW YORK: British oil and gas company Shell has begun cutting hundreds of jobs to optimize its project portfolio and improve efficiency of the organization, Bloomberg reported citing sources.
According to the news agency, positions in the low-carbon solutions unit are among the first to be eliminated. Employees affected by the organizational changes have been privately notified this week, two agency sources said. A number of specialists from corporate affairs division and projects and technology will also be cut.
"Shell aims to create more value with less emissions by focusing on performance, discipline and simplification. Achieving those reductions will require portfolio high grading, new efficiencies and a leaner overall organization," a source, who asked not to be named because the information was private, told Bloomberg.
As Bloomberg clarifies, at the end of 2022, Shell employed about 93,000 people. According to the agency, earlier the company's management had already reduced its staff by 1,800 people by selling part of its sales divisions to Octopus Energy.
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