July 21, 2018

Shell set to sack 6,500 workers

Shell set to sack 6,500 workers

Royal Dutch Shell says it will axe 6,500 jobs this year and step up spending cuts, to deal with an extended period of lower oil prices.

Besides, the company announced on Thursday in London the sale of a 33 per cent stake in the Showa Shell refinery in Japan to Idemitsu, for about $1.4 billion. The Anglo-Dutch company also said it was planning more asset disposals, bringing total asset sales between 2014 and 2018 to $50 billion. “We have to be resilient in a world where oil prices remain low for some time, whilst keeping an eye on recovery,” Chief Executive Officer Ben van Beurden said. Read more

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