Shell: to lay off 7000 to 9000 staff

(CercleFinance.com) - Shell announced on Wednesday that it plans to lay off between 7,000 and 9,000 of its workforce by the end of 2022 as part of a major restructuring project aimed at simplifying its organisation.


The oil group - which wants to lighten its cost structure by 2-2.5 billion dollars by 2022 - said that 1,500 employees have already agreed to leave the company this year through the implementation of its voluntary redundancy plan.

Shell, whose refineries are currently running at between 64% and 68% of their capacity, points out that it is now looking towards green energies, while adopting a "competitive" position in products such as biofuels and hydrogen.

Shell "A" shares, listed on the London Stock Exchange, were up over 1% on Wednesday morning following these announcements.


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