Connect with us

Hi, what are you looking for?

World

Royal Dutch Shell to cut 10, 000 jobs

Shell logo

TVC E, BUSINESS – Oil exploration giant, Royal Dutch Shell has confirmed it is cutting 10,000 jobs amid its steepest fall in annual profits for 13 years.

Shell says it made $1.8bn (£1.23bn) for the fourth quarter of the year 2015, compared with a $4.2bn profit for the same period the year before.

The oil firm indicated it would report a massive drop in profits two weeks ago and said it would cut 10,000 jobs, partly thanks to its takeover of BG.

Advertisement

Royal Dutch Shell’s chief executive, Ben van Beurden, said: “The completion of the BG transaction, which we are expecting in a matter of weeks, marks the start of a new chapter in Shell, rejuvenating the company and improving shareholder returns.

“We are making substantial changes in the company, as we refocus Shell, and respond to lower oil prices. As we have previously indicated, this will include a reduction of some 10,000 staff and direct contractor positions in 2015-16 across both companies.”

 

Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

All Episodes

ESPLASH FULL VIDEO October 31st, 2024 Watch TVC on GOTV Ch. 16, StarTimes Ch. 121, PLAY TV Ch. 801, UHF Ch. 49 Subscribe to...

All Episodes

#NaijaEntertainmentNews #NigerianCelebs #NollywoodGist #AfrobeatMusic #AfricanEntertainment #NigerianMusicIndustry #NaijaMovieIndustry #NaijaCelebrities #NaijaEntertainmentTV #NigerianEntertainmentIndustry #NaijaShowbiz

Copyright © TVCCommuniation owner of TVC Entertainment