Shell Layoffs: Energy Company To Lay Off 20% of Its Employees To Reduce Operating Expenses
Shell plans to lay off about 20 per cent of its workforce, approximately 18,000 employees, in its oil exploration and development units.
Shell will reportedly lay off about 20 per cent of its workforce, which might be around 18,000 employees, in its oil exploration, development and subsurface units. The layoffs can be seen as of Shell's strategy to cut operating expenses by USD 3 billion by the end of 2025. The Layoff Tracker (@WhatLayoff) shared this information on X on August 30, 2024, highlighting the impact of these layoffs in the company. As per a report of Reuters, Shell’s CEO, Wael Sawan, plans to scale back the oil and gas exploration and development employees at around 20 per cent as part of a cost-saving measure. The step might be a part of Shell's efforts to streamline operations in its most profitable divisions. Apple Layoffs: iPhone-Maker Cutting 100 Jobs in Its Digital Services Group as Part of Shift in Priorities for Critical Division.
Shell To Lay Off Around 18,000 Employees
🚨 LAYOFF ALERT - 🌏
Shell plans to lay off about 20% of its workforce, about 18,000 employees in its oil exploration, development, and subsurface units as part of an effort to reduce operating expenses by $3 billion by the end of 2025. pic.twitter.com/Ijv3lMn0lU
— The Layoff Tracker 🚨 (@WhatLayoff) August 30, 2024
Shell To Lay Off 20 Percent of Its Employees
Shell Plc $SHELL will cut about 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.
It is the latest round of layoffs following similar measures in the company's trading… pic.twitter.com/B7VWhmZtsz
— LWS Financial Research (@lwsresearch) August 29, 2024
(The above story first appeared on LatestLY on Aug 30, 2024 06:07 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).
