Shell Extends Workforce Reductions as CEO Pursues Cost Reductions
Shell is expanding its job cuts beyond the initially announced layoffs in its low-carbon division, as reported by Bloomberg News, citing insiders.
These cuts are occurring across various divisions, with affected individuals being offered severance deals or the chance to reapply within Shell.
A company spokesperson stated that attaining these cost reductions requires a strategic refinement of their portfolio, implementing new efficiencies, and streamlining the organization. While Shell hasn't set formal reduction goals, the company aims to consistently optimize operations to enhance value.
In October, Shell communicated plans to cut approximately 15% of its staff in the low-carbon solutions sector and downsize its hydrogen operations as part of CEO Wael Sawan's strategy to increase profitability.
A company spokesperson stated that attaining these cost reductions requires a strategic refinement of their portfolio, implementing new efficiencies, and streamlining the organization. While Shell hasn't set formal reduction goals, the company aims to consistently optimize operations to enhance value.
In October, Shell communicated plans to cut approximately 15% of its staff in the low-carbon solutions sector and downsize its hydrogen operations as part of CEO Wael Sawan's strategy to increase profitability.
