Oil giant Royal Dutch Shell PLC  is going to fire nearly  3,000 employees worldwide

Oil giant Royal Dutch Shell PLC is going to fire nearly 3,000 employees worldwide

15.12.2015 News

Oil giant Royal Dutch Shell PLC  is going to fire nearly  3,000 employees worldwideDecember, 14 2015, Shell announced that after they finish the merger with the British oil company BG Group PLC, they will fire  2,800 people. The company said in report that their plans are  to reduce the number of employees by 3%.

Terminations will start in 2016. Earlier, Shell announced plans to cut the number of work positions by 7500. Experts argue that such decisions are linked to the company’s external factors – falling oil prices (a record since 2009) and the negative dynamics of the market in general.

Shell representatives said that they estimate policy retrenchment and the merger is positive for the company, but also they understand  that soon the oil market will not grow.

About Shell merger with BG Group PLC became known in April. The price of the agreement is  $ 70 billion. Shell decided  to unite with BG Group PLC  because it became expensive to invest in the production of “black gold”, and by combining with the company BG Group PLC they hope to develop the offshore drilling and production of liquefied natural gas.

CEO of Shell said that the transaction will help Shell to be more stable in the market and increase its profits. The merger will be finished in early 2016, and then will begin the massive downsizing in the company. The merger of Shell will increase its oil reserves by 25% and gas production by 20%.

In addition to large-scale terminations  Shell plans to conduct business restructuring in oil and gas, also there will be created a separate company, which  activities will be focused on managing gas assets.

Source: www.bbc.com

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