Oil giant Royal Dutch Shell has announced plans to cut up to 9,000 jobs as part of a cost-cutting shake-up.
The restructuring is part of the company’s efforts to adapt to a low-carbon future and becoming more “streamlined”, with the severe impact of COVID-19 also a factor.
Shell, which had 83,000 employees at the end of 2019, said that the reorganisation will lead to annual savings of up to $2.5bn (£1.9bn) by 2022.
Chief executive Ben van Beurden has set out plans to adapt to a low-carbon future
It said the shake-up was expected to result in 7,000 to 9,000 job cuts – including around 1,500 who have agreed to take voluntary redundancy this year – by the end of 2022.
The company would not give a breakdown of how its workforces in different countries would be affected.
Shell employs 6,500 people in the UK.
The company said earlier this year that it was aiming to become a net-zero emissions energy business by 2050.