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Shell To Cut Over 9,000 Jobs As Oil Demand Slumps - Career - Nairaland

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Shell To Cut Over 9,000 Jobs As Oil Demand Slumps by Islie: 4:43pm On Sep 30
Royal Dutch Shell has said it plans to cut 7,000 to 9,000 jobs as it responds to challenges including the slump in oil demand amid the Covid-19 pandemic, the BBC reports

The oil giant said the cuts would be implemented by 2022 and included 1,500 people who were taking voluntary redundancy.


The move comes five months after it cut its dividend for the first time since World War Two.

Shell chief executive Ben van Beurden said the job cuts were “the right thing to do for the future of the company” as it strives to become a net-zero emissions energy business.

Shell employs 83,000 people worldwide, including 6,000 in the UK. It has been hit by a substantial drop in profits since the pandemic struck.

It saw a 46% fall in first-quarter net income to $2.9bn (£2.3bn), while second-quarter income fell 82% to $638m.

The firm said third-quarter earnings were expected to be “at the lower end of the $800m to $875m range”.

Shell is in the midst of a cost-cutting drive that is expected to deliver annual savings of $2bn to $2.5bn by 2022.

Other big oil firms are facing similar challenges.

RBP has also cut its dividend and recently announced it was cutting 10,000 jobs out of its global workforce of 70,000.


‘Tough process’

“We have had to act quickly and decisively and make some very tough financial decisions to ensure we remained resilient, including cutting the dividend,” said Mr van Beurden.

“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.”

Mr van Beurden described the job-cutting programme as “an extremely tough process”.

“It is very painful to know that you will end up saying goodbye to quite a few good people,” he said. “But we are doing this because we have to, because it is the right thing to do for the future of the company.”

He said Shell had to be “a simpler, more streamlined, more competitive organisation that is more nimble and able to respond to customers”.

Mr van Beurden reiterated that Shell intended to become a net-zero emissions energy business by 2050 or sooner.

That meant the company had to change the type of products it sold, he said.

“We will have some oil and gas in the mix of energy we sell by 2050, but it will be predominantly low-carbon electricity, low-carbon biofuels, it will be hydrogen and it will be all sorts of other solutions too,” he said.

DAILY TRUST

4 Likes 1 Share

Re: Shell To Cut Over 9,000 Jobs As Oil Demand Slumps by gaius01(m): 4:44pm On Sep 30
Arrrrrrrh

Another set of people will soon cry, gosh !!

So pathetic embarassed embarassed

12 Likes 2 Shares

Re: Shell To Cut Over 9,000 Jobs As Oil Demand Slumps by prince2pac(m): 4:46pm On Sep 30
embarassed embarassed

Things keep getting worse by day..

14 Likes

Re: Shell To Cut Over 9,000 Jobs As Oil Demand Slumps by BigSarah(f): 4:50pm On Sep 30
When will the water of some Niger delta communities get cleaned?...

17 Likes 3 Shares

Re: Shell To Cut Over 9,000 Jobs As Oil Demand Slumps by mename: 4:50pm On Sep 30
Once told a friend to invest in other businesses, because dropping of workers can occur in any firm, oil company or not.

36 Likes 3 Shares

Re: Shell To Cut Over 9,000 Jobs As Oil Demand Slumps by Saig: 4:50pm On Sep 30
When are we getting good news in this country? food about to be taken from some people's table

3 Likes

Re: Shell To Cut Over 9,000 Jobs As Oil Demand Slumps by EastGold(m): 4:55pm On Sep 30
I dey see danger, danger!!
Wahala dey

8 Likes

Re: Shell To Cut Over 9,000 Jobs As Oil Demand Slumps by daddytime(m): 5:00pm On Sep 30
Eyaaa

Nothing lasts forever.

8 Likes 1 Share

Re: Shell To Cut Over 9,000 Jobs As Oil Demand Slumps by PrimeWatermark: 6:04pm On Sep 30
Apply Now!

1 Like

Re: Shell To Cut Over 9,000 Jobs As Oil Demand Slumps by Ahamefuna0001(m): 6:04pm On Sep 30
Crude oil is gradually coming to its climax just as coal and other natural resources, The biggest losers will be those over depending on it, Business, Production and Agriculture will always be the way forward.

21 Likes 3 Shares

Re: Shell To Cut Over 9,000 Jobs As Oil Demand Slumps by AFULA(m): 6:05pm On Sep 30
okay
Re: Shell To Cut Over 9,000 Jobs As Oil Demand Slumps by Stallion93(m): 6:05pm On Sep 30
Damn
BBNaija should increase the number of Housemates
Winners should be made to share their winning sum
Re: Shell To Cut Over 9,000 Jobs As Oil Demand Slumps by smile11s(m): 6:05pm On Sep 30
All those top execs makes million $$ per year. If they can take a 20% pay cut, these jobs will be saved. But it can never happen. They care about funding their luxury lifestyles. Life no balance at all.

18 Likes

Re: Shell To Cut Over 9,000 Jobs As Oil Demand Slumps by datola: 6:05pm On Sep 30
Ah
Re: Shell To Cut Over 9,000 Jobs As Oil Demand Slumps by bobokeshington: 6:05pm On Sep 30
BUHARI IS A FAILURE

7 Likes

Re: Shell To Cut Over 9,000 Jobs As Oil Demand Slumps by Yankiss(m): 6:05pm On Sep 30
There should be better ways than retrenchment. Cutting careers mid-way is not proper at all. There have to be better ways!!! The highly earning chief executives can cut their salaries to accommodate all.

3 Likes

Re: Shell To Cut Over 9,000 Jobs As Oil Demand Slumps by Sholaco: 6:05pm On Sep 30
Foolish shell

1 Like

Re: Shell To Cut Over 9,000 Jobs As Oil Demand Slumps by Frankyboy1(m): 6:06pm On Sep 30
OK o,nothing is permanent in life

1 Like

Re: Shell To Cut Over 9,000 Jobs As Oil Demand Slumps by BanMeAndFaceDWr: 6:08pm On Sep 30
Mehn, hunger is already in the land. We need new president
Re: Shell To Cut Over 9,000 Jobs As Oil Demand Slumps by lekki1444: 6:08pm On Sep 30
shocked NO MORE OYEL AND GAS JOB

4 Likes

Re: Shell To Cut Over 9,000 Jobs As Oil Demand Slumps by gwanggaeto(m): 6:09pm On Sep 30
shocked....Don't put all eggs in one basket





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Re: Shell To Cut Over 9,000 Jobs As Oil Demand Slumps by faithfull18(f): 6:10pm On Sep 30
Hmmn, speechless.
Re: Shell To Cut Over 9,000 Jobs As Oil Demand Slumps by gabicon: 6:10pm On Sep 30
Job cuts in the oil industry is inevitable, the forecast shows that by 2040 oil demand will slump by 40%. Most oil companies are redefining their vision and mission to encompass all areas of energy.

11 Likes 3 Shares

Re: Shell To Cut Over 9,000 Jobs As Oil Demand Slumps by Judolisco(m): 6:10pm On Sep 30
9000 jobs shocked

2 Likes

Re: Shell To Cut Over 9,000 Jobs As Oil Demand Slumps by Mathberyl: 6:11pm On Sep 30
shocked shocked

Check my signature...I am a Graphics designer and I design quite alot of things...
Thanks wink

1 Like

Re: Shell To Cut Over 9,000 Jobs As Oil Demand Slumps by martineverest(m): 6:11pm On Sep 30
bobokeshington:
BUHARI IS A FAILURE
read b4 fooling yourself

8 Likes

Re: Shell To Cut Over 9,000 Jobs As Oil Demand Slumps by bodee(m): 6:11pm On Sep 30
change is the only thing that's constant... Hence, we need to understand time and season!

3 Likes

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