Home / Business / Shell to cut at least another 2,200 jobs globally
Shell expects 4th Q profits to drop at least 40 percent
The Shell logo at a petrol station in London, Wednesday, Jan. 20, 2016. Royal Dutch Shell says it will trim at least 2,200 jobs globally amid challenging times in the oil industry. (AP Photo/Kirsty Wigglesworth)

Shell to cut at least another 2,200 jobs globally

LONDON (AP) — Anglo-Dutch oil company Royal Dutch Shell says it will trim at least 2,200 jobs globally amid challenging times in the oil industry.

The losses are in addition to cuts already being implemented because of the energy company’s merger with BG. The losses will include some 475 positions in the North Sea.

Oil companies around the world are slashing jobs and postponing investments to adjust to lower energy prices. Prices have fallen because production remains high even as slower economic growth, particularly in China, reduces consumption.

Paul Goodfellow, Shell’s vice president for the U.K. and Ireland, told staff on Wednesday that these are “tough times for our industry and we have to take further difficult decisions to ensure Shell remains competitive through the current, prolonged downturn.”

In related news, Shell: Skimmers in Gulf to clean up 88,200 gallon oil spill

Copyright 2016 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

One comment

Leave a Reply

Your email address will not be published. Required fields are marked *

*