Parent company of Shell Petroleum Development Company of Nigeria, SPDC, Royal Dutch Shell, has confirmed it will cut 10,000 staff and direct contract jobs across its global companies in 2016.
Shell which employs around 90, 000 in more than 80 countries stated that it will slash the jobs to curb costs amid the lingering slide in oil prices.
Shell’s Chief Executive, Ben van Beurden, said in a webcast on its 2015 fourth quarter and full year results yesterday that the plan was part of holistic changes the company was undertaking to restructure and refocus its operations this year.
The Shell chief executive said the company was making substantial changes by reorganising its upstream, reducing costs and capital investment to enable Shell respond to lower oil prices.
Beurden who said the planned merger between Shell group and BG Group was expected to be completed in a few weeks, revealed that the company has exited the Bab sour gas project in Abu Dhabi, (UAE) and is postponing final investment decisions on LNG Canada and Bonga South West in deep water Nigeria in 2016.
