Shell Cut Jobs to Sharpen Up
Thursday, March 18, 2010 7:34
Royal Dutch Shell is axing a further 1000 jobs after admitting it had been slow to respond to the global slump. The Anglo-Dutch group, which has 100000 employees across the world, cut 5000 posts in 2009 and had already announced that the company is going to shed 1000 more jobs this year.
However, Peter Voser, chief executive of the company, said that Shell had become too complicated and slower to respond than expected and is looking to sharpen up. So, the group would cut another 1000 posts by the end of 2011.
Shell expects a strong increase in cashflow from projects coming on stream over the next three years and announced that it is assessing at least 35 new projects to underpin production growth until 2020. The group plans net annual spending of up to £18 billion in the three years to 2014.
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