Shell to cut further 2,200 jobs from global workforce as oil price remains low

Shell to cut further 2,200 jobs from global workforce as oil price remains low

Oil giant Shell has said it will slash a further 2,200 jobs from its global workforce as it expects the oil price to remain "lower for longer".

The firm said the move would bring the total number of staff and direct contractor roles being cut from the company from the start of 2015 to the end of this year to 12,500, up from its previous target of 10,300.

But it said the net number of job losses in 2016 would be fewer than 5,000, as it expects to continue recruiting this year.

The company, which sealed a mega-merger with BG Group in February, said the cost-cutting drive will include the loss of about 475 jobs at its Irish and UK "upstream business".

Paul Goodfellow, Shell's vice president for the Ireland and the UK, said it had taken the steps because the current market conditions remained "challenging".

He said: "Our integration with BG provides an opportunity to accelerate our performance in this 'lower for longer' environment. We need to reduce our cost base, improve production efficiency and have an organisation that best fits our combined portfolio and business plans.

"As a result, we will reduce the size of the organisation supporting our UK and Ireland upstream business by around 475 people. We will look to implement the majority of this change during 2016.

"Following these changes, Shell will still remain a key employer in the North East of Scotland with around 1,700 employees."

More in this Section

Michael O’Leary lambasts British Government for Flybe rescueMichael O’Leary lambasts British Government for Flybe rescue

Global shares hit as investors focus on coronavirus outbreak in prisonsGlobal shares hit as investors focus on coronavirus outbreak in prisons

Nama paid €1m in redundancies last yearNama paid €1m in redundancies last year

No sign of significant consumer upsurge: Visa IrelandNo sign of significant consumer upsurge: Visa Ireland


Lifestyle

Keep chomping on those carrots so your eyes will be in perfect working order for that prolonged annual gaze through the keyhole as Home of the Year returns for a sixth series next week.Home of the Year offers a good excuse for a bit of good-natured interiors voyeurism

They differ from the more prevalent oranges we eat because their flesh, and often the skin, is crimson or deep red in colour.Michelle Darmody: The best time of year to buy blood oranges

The annual Members Exhibition now underway at the Lavit Gallery in Cork features 92 works from 72 artists.The exhibition runs until March 7.Under the hammer: Your guide to upcoming auctions

There’s an oriental theme at the James Adam ‘At Home’ auction in Dublin, says Des O’SullivanAuctions: Sale full of eastern promise

More From The Irish Examiner