The protracted downturn in oil prices is seeing another energy major make swingeing cuts to its global workforce. Royal Dutch Shell’s latest quarterly results saw net income slide 25% to $3.9bn and ceo Ben van Beurden was quick to announce massive cuts to protect the company’s bottom line.
“We are anticipating some 6,500 staff and direct contractor reductions in 2015,” van Beurden said.
Shell also announced Thursday it would reduce capital investment by an additional $3bn this year, bringing the total reduction to 20% over 2014 levels.
Van Beurden maintained Shell is “delivering a competitive performance in today’s oil market downturn”.
