August 30, (THEWILL) – Oil giant, Shell Plc, is set to reduce its workforce by about 20 percent in specific oil and gas exploration and development divisions.
The move, according to the Financial Post, is part of CEO Wael Sawan’s strategy to enhance efficiency and profitability. It follows similar job cuts in other areas of the company, including its deal-making team, low-carbon solutions, chemicals, and offshore wind operations.
Quoting a source with knowledge of the development, the media said the cuts will impact Shell’s exploration, strategy and portfolio segment, as well as its development, subsurface, and wells business. These proposed reductions are pending discussions with employee representative groups, it added.
A Shell spokesperson told Reuters that the company aims to “create more value with less emissions” by focusing on performance, discipline, and simplification throughout its business.
