Due to the falling price of oil in the world, Shell has decided to cut down about 6000 employees from its workforce.
Leadership reports that the oil company also sold 33 per cent of its stake in the Showa Shell refinery in Japan to Idemitsu, for about $1.4 billion.
The reduction of its employees is expected to see the company reduce its staff strength from 100,00 workers and contractors to less than 93000.
The Chief Executive Officer Ben van Beurden said it was important to observe what was going on in the oil market and make decisions based on the observation.
“We have to be resilient in a world where oil prices remain low for some time, whilst keeping an eye on recovery,’’
Falling oil prices has affected the company as it recorded a 37 per cent drop in profit.
The oil company said its operating cost is expected to come down by $4 billion.
Meanwhile, gunmen abducted aged father of oil dealer and order him to pay ransom.
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