Royal Dutch Shell, cutting 6500 jobs on oil price slump

GMT 06:38 2015 Thursday ,30 July

Arab Today, arab today Royal Dutch Shell, cutting 6500 jobs on oil price slump

Royal Dutch Shell
London - Arab Today

Royal Dutch Shell on Thursday said it plans to reduce its headcount by 6,500 this year owing to sliding oil prices and as it looks to complete a mega takeover.

"Today's oil price downturn could last for several years, and Shell's planning assumptions reflect today's market realities," the company said in a statement, adding that it anticipates "some 6,500 staff and direct contractor reductions in 2015".

Shell earlier this year unveiled a mega-takeover of British rival BG Group worth £47 billion ($73 billion, 67 billion euros), as the two firms consolidate their positions in a sector slammed by the oil price slump.

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