Royal Dutch Shell Group .com Rotating Header Image

Shell Job Cuts Media Coverage 5/7/8 September 2009

Screen Shot 2015-01-06 at 21.26.38Shell Job Cuts Media Coverage 5/7/8 September 2009

Sun: Shell axe ‘warning’ (Newspaper)

OIL giant SHELL is preparing to axe more than 2,000 of its staff, it was claimed last night.

Sources said that middle-managers had been told in an internal email that “the coming days will bring more information about Shell’s reorganisation”.

A Shell protest website – royaldutchshellplc.com – claimed 15 PER CENT of the company’s exploration and production team could go.

Shell, which axed 150 top managers in July, has previously warned that 24,500 would be “affected” in some way by chief exec Peter Voser’s restructuring plans.

The company refused to comment last night.

Article on Sun website

pdf version

Financial Times: Shell set to unveil job cuts (Website) 5 Sept 2009

Royaldutchshellplc.com, an independent website used by present and former Shell staff, said:“Although precise figures have not been supplied to us, our estimate based on an analysis of the leaked information received, is that on average, staff numbers [in exploration and production] will be cut by 15 per cent.” It said some experienced staff expected to have to re-apply for their jobs.

Financial Times: Shell set to unveil job cuts (Newspaper) pdf

Calgary Herald: Oilpatch yearns for end to layoffs

Extracts:

Meanwhile, Royal Dutch Shell PLC could be planning job cuts of around 15 per cent in its core exploration and production unit which includes Shell Canada, Reuters reported on Friday, citing sources inside the oil major.

An announcement on a restructuring of the unit, which generates most of the company’s profit, is due on Monday, Shell protest website Royaldutchshellplc.comsaid. Shell declined to comment.

In May, Europe’s largest oil company by market value said it planned to restructure its exploration division and divide it into two units, one focused on the Americas and another focused on the rest of the world.

© Copyright (c) The Calgary Herald

Business Day (South Africa): Royal Dutch Shell said to be planning job cuts

LONDON — Royal Dutch Shell would today announce its plans to cut about 15% of the jobs in its core exploration and production unit, a Shell protest website reported on Friday.

An announcement on restructuring the unit, which generates most of Shell’s profit, was due today, website Royaldutchshellplc.com said, citing sources inside the oil major.

Shell declined to comment.

In May, Europe’s largest oil company by market value said it planned to restructure its exploration division and divide it into two units, one focused on the Americas and another focused on the rest of the world.

Since then, new CE Peter Voser has announced hundreds of job cuts across the company as it struggles with plunging revenue after oil price futures collapsed from a record above 147 a barrel in July last year.

On Thursday, Standard and Poor’s lowered its long-term rating on Shell to “AA” from “AA+”, citing concerns about its cash flows.

The website did not say how many jobs would be affected.

ChinaMining.com

Finanmagru (Russia)

DAILY MAIL

thisismoney Daily Mail & This is Money: Oil giant Shell prepares to cut jobs

8 September 2009, 10:04am

Royal Dutch Shell managers are beginning the grim task of telling staff where job cuts will fall as new chief executive Peter Voser wields the axe.

A report on company protest site royaldutchshellplc.com said about 15% of jobs in the exploration and production unit will be lost and employees will be
told early this week.

However, there is doubt over that figure as reductions have not been finalised yet. Shell declined to comment.

Voser has said thousands of positions will go as he slims down the oil leviathan in a plan called Transition 2009.

In an email to staff last month he said: ‘We continue to operate in a challenging environment. That reinforces the urgency for us to step up our cost reduction efforts.’

The ‘A’ shares rose 18p to 1,703p yesterday.

In July, Voser struck a grim tone as he unveiled a 70% crash in second-quarter profits to £1.4bn. He also announced plans to hack capital spending by 10% and push through ‘substantial’ cuts to the firm’s 102,000-strong workforce.

It follows a 17,000 reduction in headcount between 2003 and 2008 and a cull of a fifth of the firm’s top managers already this year.

‘We simply don’t know when the global economy will recover, and we have to plan on the basis that this downturn could last quite some time,’ said Voser at
the time.

World oil demand will fall by over 2m barrels-a-day this year, the sharpest fall since 1980, according to Shell.

This time last year, firms were riding high on the back of oil prices that peaked at $147 a barrel. But the global recession pushed prices almost down to $30 a barrel early in 2009.

Since then, prices have recovered above $70.

pdf version of Daily Mail article

Comments are closed.

%d bloggers like this: