To shift to low-carbon energy Shell to cut up to 9,000 jobs in new plan

LONDON (Reuters) – Royal Dutch Shell announced on Wednesday plans to cut up to 9,000 jobs, or over 10% of its workforce, as part of a major overhaul to shift the oil and gas giant to low-carbon energy.

Shell, which had 83,000 employees at the end of 2019, said that the reorganisation will lead to annual savings of $2 billion to $2.5 billion by 2022.

Last month it launched a broad review of its business aimed at cutting costs as it prepares to restructure its operations as part of the shift to low-carbon energy.

The Anglo-Dutch company said it expected to cut 7,000 to 9,000 jobs by the end of 2022, including some 1,500 people who have agreed to take voluntary redundancy this year.