Royal Dutch Shell Prunes Jobs And Capital Spending – ValueWalk Premium

Royal Dutch Shell Prunes Jobs And Capital Spending

Royal Dutch Shell said on Thursday that it’s cutting 6,500 jobs this year and slashing capital investment by $7 billion, as the group prepares for a “prolonged downturn” in the oil industry.

The Anglo-Dutch group plans to trim operating costs by $4 billion this year, before making further cuts in 2016.

Shell to axe 6,500 jobs
Royal Dutch Shell said it anticipated a 6,500 reduction in staff and contractor job numbers in 2015, and the job losses include previously announced reductions in countries such as the U.S., UK, Canada, Norway and Nigeria. The Hague . . .

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