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Wednesday, December 16, 2015

SEE HOW Shell WILL ReleiF 2,800 Of Its Workforce

In a bid to reduce its operating cost by $3.5 billion , Royal Dutch Shell Plc plans to cut about 2,800 jobs.
The firm in a statement explained that the job cut equates 3 percent of Shell and BG’s combined workforce as the Hague-based company consolidates offices and its administration structure once the acquisition is completed.

The latest acquisition makes the combined company the world’s biggest liquefied natural gas player and give it oil and gas assets from Australia to Kazakhstan and Brazil.
Due to oil slump, some investors  had questioned if Shell would pay too much for BG.  But to convince shareholders to approve the deal, Shell promised to cut costs.
”Shell expects the restructuring will be required to achieve the expected benefits of the recommended combination, including previously disclosed and reported-on pretax synergies of $3.5 billion,” the company said.
According to data complied by Bloomberg, BG had 5,143 employees and Shell 94,000 at the end of 2014 while Shell has already announced 7,500 cuts in employee and contractor jobs this year.