2024-03-14 06:57:03
British Shell announced massive layoffs. Bloomberg reports that the largest oil and gas company will fire 20 percent of its mergers and acquisitions department staff, Day.Az reports with reference to Lenta.ru.
The company continues to restructure its business units in an attempt to cut costs and achieve savings goals of two to three billion dollars. The new round of layoffs will affect the division that was least affected by past job cuts. It employs several hundred people.
Shell Chief Executive Officer Wael Sawa, appointed in January 2023, promised to be “ruthless” in improving efficiency and returns for investors. According to CFO Sinead Gorman, structural savings have already amounted to more than a billion dollars in February.
In 2022, Shell’s workforce grew from 83 to 93 thousand people. The company is due to publish its annual report for 2023 one of these days.
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