Published March 15, 2012: Dow Jones Newswires
LONDON The cost of Royal Dutch Shell PLC’s global work force rose 2.8% last year, even though the Anglo-Dutch company reduced its overall number of employees by some 7.2% as the company continues to roll out a long-term plan to shrink headcount.
In recent years, Shell has sought to reshape its portfolio, selling off assets in less-profitable areas like refining and marketing. Chief Executive Peter Voser had made reducing the firm’s overall cost base, including labor, part of his strategic mandate when he assumed his position in 2009.