(Bloomberg) — Shell Plc is cutting about 20% of its workforce across a number of oil and gas exploration and development divisions as CEO Wael Sawan looks to improve efficiency and profitability.
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It is the latest round of cuts following similar moves at the company’s deal-making team, as well as low-carbon solutions, chemicals and offshore wind. The staff reductions would affect the company’s exploration, strategy and portfolio segment, as well as its development, subsurface and wells business, a person familiar with the matter said.
The proposed measures are pending consultation with groups representing workers, the source said.
“Shell aims to create more value with lower emissions by focusing on performance, discipline and simplification across the business,” a company spokesperson said in an email.
Reuters was the first to report that jobs are being lost.
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