Shell plans major job cuts to streamline operations and boost profitability under CEO Wael Sawan's strategy
Shell Plc is set to reduce its workforce by about 20 percent in specific oil and gas exploration and development divisions.
This move is part of CEO Wael Sawan’s strategy to enhance efficiency and profitability, according to the Financial Post.
This move follows similar job cuts in other areas of the company, including its deal-making team, low-carbon solutions, chemicals, and offshore wind operations.
The job cuts will impact Shell’s exploration, strategy and portfolio segment, as well as its development, subsurface, and wells business, according to a source with knowledge of the matter. These proposed reductions are pending discussions with employee representative groups.
A Shell spokesperson stated via email that the company aims to “create more value with less emissions” by focusing on performance, discipline, and simplification throughout its business. The initial report of these job cuts was made by Reuters.
