As its fortunes dwindled due to falling oil prices, Royal Dutch Shell Plc is to sack 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 per cent 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.
When Shell announces its results on 4 February 2016, Shell’s fourth quarter 2015 earnings on a current cost of supplies (“CCS”) basis excluding identified items are expected to be in the region of $1.6–1.9 billion.
This includes Upstream of $0.4–0.5 billion, of which Integrated Gas some $1.6–1.9 billion, and Downstream of $1.4–1.6 billion, of which oil products some $1.3–1.4 billion and chemicals some $0.1–0.2 billion. Full year 2015 earnings on a CCS basis excluding identified items are expected to be in the region of $10.4 – 10.7 billion.

http://capitalpost.com.ng/oil-giant-shell-to-sack-10000-workers/
http://capitalpost.com.ng/oil-giant-shell-to-sack-10000-workers/

This is bad, hope those affected get better jobs or create successful businesses

Oil and gas job no be am again

It's to be expected. Globally, the oil industry is cutting back investments of over $200B over the next few years and this will be felt in the size of the workforce.

This will continue until the price of oil experiences some sort of resurgence however, what isn't in doubt is that the oil industry will never be the same again.

oil workers hope you are divesting.

when operators start sacking, then there is trouble.

Non of my business

Well its been announced since last year, all Oil Majors are currently cutting costs by reducing headcount and cutting project costs. It is expected because of the low oil price and mind you these cuts have been announced since mid last year.

Make una no blame am on PMB or GEJ its strictly business. Shareholders must chop!

this is shell world wide not shell Nigeria.
however out of the 10,000 people to be sacked, 2000 will be in Nigeria because of Shell massive size in Nigeria

tuale4u:
this is shell world wide not shell Nigeria.
however out of the 10,000 people to be sacked, 2000 will be in Nigeria because of Shell massive size in Nigeria

My brother, them don reduce headcount last year and the year before....it is global cut like you said. 2000 is not from Shell Nigeria rather 2800 is a fall out from the Shell BG merger, while 7000 is Shell group (staff and contractors ) globally

If you vote me I will create one million jobs and stabilize oil price , $1 will be equal to our 1naira.

Onyejiuwaokoh:
If you vote me I will create one million jobs and stabilize oil price , $1 will be equal to our 1naira.

Yeah. I remember the person that said that is high on Owerri weed and burukutu..

Lobatan

Lets Blame GEJ #Laughing in APC tunes

It is well....

I have a dream, that one day! Nigeria will rise again.....

This is gonna be a testing time for oil workers. But I believe the enginners and on shore workers will still retain their positions.

For detail natural weight loss therapy, check my profile

This administration na to dey laff ooo.

Sai baaba!! Sai nonsense!!!

The only adminstration wey old old pple dey get appointment and d young dey get sack leta everyday.

[size=20pt]This is the reason why i am always proud to be an Internet entrepreneur

well i do not see them having much problem if they are wise.
[/size]





meanwhile guys see this threaad on nairaland on the new way to cure stroke, obesity, burn fat, and obesity

https://www.nairaland.com/2844443/know-anybody-down-stroke

Oil price now below $27 per barrel

jeeeeezzzzz,my dad

Okay na!


See what Mercy Johnson did in this new movie for #20million @@ http://flashynews247..com.ng/2016/01/mercy-johnson-goes-nked-in-new-movie.html

Some women are about to learn that money is not what makes a man husband material.

gbam!

Some miscreants will blame PMB

Oil is really down ......it pays to own your own business. Even the economy would find it difficult to sack you

God help Nigeria

While some parents are praying for their children to work in shell .

which means more jobless youth to pay 5k ... But on a serious note i think its time the leadership of our great country Nigeria stop saying they will diversify the economy and really start diversifying the economy, in fact they should treat it like they are already behind schedule. With the amount of people already sacked and more to be sacked, i think the Government will have a hard time fixing the country or taking us to the promise land if they keep talking and not doing..
#saynoto5k #sayyestocreationofjobsinstead
Mr President we don't want more people nairanlanding and wailing as thier job like one LadyF said

MAY GOD HELP THEM. THE WISE ONES WOULD HAVE INVESTED WHICH THEY WILL FALL BACK ON IF NOT YAWA GO GAS O

Ok

na Bihari cause am