Shell oil company job cuts Shell is planning to cut 20% of its global workforce, with particular impact on the company's headquarters in Houston, Reuters reports, citing anonymous sources. Sep 6, 2024 · The consolidation wave hitting Houston's oil companies could lead to short-term job cuts in exchange for long-term gains, analysts and economists said. Sep 4, 2024 · Shell plans to cut hundreds of jobs on its oil and gas exploration and development team, including a significant percentage of workers in Houston, according to a Reuters report. hit as Shell moves to cut 20% of its Sep 22, 2018 · Ninety jobs are to go at oil giant Shell’s North Sea headquarters in Aberdeen. Ruthless focus: Shell chief executive Wael Sawan. Sep 10, 2024 · Shell plc SHEL, the oil and gas giant, is planning to cut down its workforce by 20%. Experts say the proposed cuts point to a larger trend: energy giants spending less and less on the geoscience and exploratory drilling needed to find and develop new oil reserves. Jan 18, 2024 · In December 2023, the oil major announced internally a broader plan for job cuts in other departments, too. Oil prices remain elevated, with WTI and Brent crude both hovering around $80 per Jan 18, 2024 · Shell makes more job cuts: 'Leaner overall organisation' Latest layoffs come on top of personnel losses announced last year. The job cuts will affect geologists, geophysicists, and oil and gas well designers within Shell’s exploration and development unit. 89bn). Reports from December claimed 200 jobs would be Sep 9, 2024 · Houston is expected to take a significant hit as Shell moves to cut 20% of its global oil and gas development and exploration division, Reuters reported. S. This comes down to nearly 200 jobs being Oct 11, 2024 · Since then, Shell has embarked on job cuts across the company, including in divisions such as oil and gas production, dealmaking and chemicals, as well as low-carbon areas like offshore wind. The company clarified the job Sep 30, 2020 · Royal Dutch Shell has said it plans to cut 7,000 to 9,000 jobs as it responds to challenges including the slump in oil demand amid the Covid-19 pandemic. . The cuts, in oil and gas Oct 7, 2018 · Shell CEO Cuts Jobs, But Don’t Worry—Shareholders Are Totally Thrilled While Employees Watch the Ship Sink. Aug 29, 2024 · Shell plans to scale back its oil and gas exploration and development workforce by 20% as CEO Wael Sawan widens his cost-saving drive to the highly profitable division after deep cuts in Aug 29, 2024 · Shell is to scale back its oil and gas exploration and development workforce by 20pc as chief executive Wael Sawan widens his cost-saving drive. Mar 13, 2024 · Editor’s Note: Corrected language regarding Shell’s layoffs. The job cuts are anticipated to affect the oil and gas exploration staff, per a report by Reuters. Aug 29, 2024 · “The current proposed organisation design would see that the number of positions globally would reduce by 20% overall versus 2022 numbers,” Shell told Upstream. Oct 1, 2020 · European oil giant Royal Dutch Shell expects to cut up to 9,000 jobs, or about 10% of its workforce, as it seeks to transform into a more sustainable energy producer, the company said Wednesday. Oct 25, 2023 · Shell will cut at least 15% of the workforce at its low-carbon solutions division and scale back its hydrogen business as part of CEO Wael Sawan's drive to boost profits, it said on Wednesday. The company is one the largest oil companies in the world. Staff were told details Jan 19, 2024 · Earlier this week, Shell reached an agreement for the sale of Shell Petroleum Development Company of Nigeria (SPDC) in a transaction valued at $2. Its Low Carbon Solutions division will be the first hit by these job cuts. The Anglo-Dutch company said Wednesday that it would cut between 7,000 and 9,000 May 29, 2024 · British energy giant Shell is poised to reduce its workforce in its offshore wind division as CEO Wael Sawan shifts the company’s focus towards oil and gas, Bloomberg has reported. “Shell aims to create more value with less emissions by focusing on performance Sep 30, 2020 · Royal Dutch Shell will slash as many as 9,000 jobs as the oil giant accelerates a shift away from fossil fuels. As of 2015, there is about 20,000 Shell employees that are based in the U. By Allyson Ackerman , News Editor Sep 3, 2024 Jan 18, 2024 · Shell () layoffs are coming for hundreds of the company’s employees. Shell (NYSE:SHEL) plans to cut 20% from its oil and gas exploration and development workforce, as CEO Wael Sawan widens his cost-saving drive after deep cuts in renewables and low-carbon Aug 30, 2024 · Layoffs Hit Exploration and Development Unit. The US headquarters offices are located are in Houston, Texas. Aug 31, 2024 · Shell Plc is set to cut around 20% of its workforce in some oil and gas exploration and development divisions as Chief Executive Officer Wael Sawan works to boost efficiency and profitability. Of the 90 posts going, half are full-time employees with the rest made up of agency staff and contractors. Feb 8, 2021 · "SHELL OIL laying off 9000 workers," reads the Feb Shell said in April that it would become a net-zero emissions company by 2050. As of this article’s publication, Shell has made no official announcements regarding any specifc layoffs. The job cuts will range from 7,000 to 9,000 workers by the end Oil & Gas Producers About Shell Oil: Shell Oil Company is the US-based subsidiary of Royal Dutch Shell. Dec 22, 2023 · Shell employed about 93,000 globally on a full and part-time basis at the end of 2022, more than double that of Chevron, despite the US company having a market value of 34 per cent higher. Jan 18, 2024 · Shell Plc has started to make hundreds of job cuts, with positions in its low-carbon solutions unit among the first to be eliminated, said people familiar with the matter. SPDC is being acquired by Renaissance, a consortium comprising five companies: ND Western, Aradel Energy, First E&P, Waltersmith and Petrolin. Shell said the cuts would help it maintain competitiveness and ensure the long-term sustainability of the North Sea business. May 31, 2024 · The layoffs in the offshore wind division follow the job cuts in Shell’s low-carbon solutions unit, where at least 15% of the workforce will be laid off. Sep 2, 2024 · SHELL is slashing around 20% of jobs in its integrated gas and upstream business as part of restructuring aimed at scaling back oil and gas production. The company says the cuts will affect two divisions in the business: exploration, strategy and portfolio, and development, subsurface and wells. Oct 11, 2024 · Shell CEO Cuts Jobs, But Don’t Worry—Shareholders Are Totally Thrilled While Employees Watch the Ship Sink. Posted by John Donovan: 11 Oct 2024. 4bn (£1. More information: None Related companies: Sep 3, 2024 · Reuters said Shell could cut hundreds of oil and gas exploration and development jobs in order to reduce costs, with Houston being especially impacted. Shell Layoffs Spur SHEL Stock Higher. The job cuts, mainly in Europe, are expected to commence within months. In today’s episode of “Corporate Greed Gone Wild,” Shell employees are shocked—shocked, I tell you—that their CEO, Wael Sawan, is gutting the company left, right, and centre, all to make a few extra bucks for their beloved shareholders. Aug 29, 2024 · Shell is to scale back its oil and gas exploration and development workforce by 20pc as chief executive Wael Sawan widens his cost-saving drive. Mar 13, 2024 · Let’s dive more into these layoffs and what it may mean for shareholders. The survey showed that some employees aren’t enthusiastic about what the drive for profitability means for their work life. The cuts to the highly profitable division come Aug 29, 2024 · Around 20 per cent of jobs will go in units responsible for Shell’s exploration strategy and for developing its oil and gas finds, according to a person familiar with the plans.
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