Thousands of jobs are at risk at oil and gas giant Shell. The British newspaper The Times writes on the basis of insiders that the company will announce the interventions on Wednesday. On Wednesday, Shell will publish an interim trade update in anticipation of the quarterly update. More may then be announced.
In the UK, there are reportedly hundreds of positions being dropped. The intervention is part of a broader reorganization. Shell employs 83,000 people worldwide.
Reports have already circulated that Shell wants to reduce costs by 40 percent for its oil and gas production. That would be part of a strategic overhaul with a view to the energy transition and simplifying the structure. The question that would be on the table is what kind of a company Shell wants to be in the future.
In the downstream branch of Shell, which has 45,000 filling and service stations, costs should then be reduced anyway. In addition, other interventions are reportedly being looked at, including cutting management layers.
A spokesperson for Shell says the company is engaged in a strategic reorientation with a view to the energy transition. He does not want to comment on rumors about job cuts.