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Royal Dutch Shell culls 6,500 jobs as cost-cutting continues

  • Royal Dutch Shell has slashed 6,500 jobs as part of its cost-cutting strategy to counter the fall in oil prices. The job cuts are part of the oil giant’s $4 billion reduction in operating costs, the company said.

    Shell posted quarterly profits of $3.4 billion, a fall of 35% compared with the same period last year. It also announced that it was scaling back operations to explore oil as it makes plans for a “prolonged" downturn in prices.

    Tagged as: Royal Dutch Shell, jobs, cost-cutting, oil prices, Shell job cuts, oil giant, quarterly profits, oil exploration, business news