Shell to cut 9,000 jobs for restructuring

On Wednesday (30), the oil company Royal Dutch Shell announced that it intends to cut up to 9,000 jobs by the end of 2022, equivalent to more than 10% of its workforce, due to a restructuring project of transition to low carbon energies. This year, 1,500 employees have already accepted voluntary shutdown plans. The company said the restructuring will bring additional savings of between $2 billion and $2.5 billion by 2022.

The cost-cutting is part of Shell's plans to move to the electricity and renewables sector. The oil company also said its oil and gas production is expected to drop sharply in the third quarter to about 3.04 million barrels of oil per day, due to the coronavirus pandemic and hurricanes that forced offshore rigs to suspend production.

In competition, other companies are also seeking to increase their share of the renewables market. This year, British Petroleum (BP) expanded plans to cut about 10,000 jobs as part of an initiative to expand the renewables business and reduce oil and gas production. France's Total also disputes its participation in this market.

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