Royal Dutch Shell culls 6,500 jobs as cost-cutting continues
July 31 , 2015
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.