Image courtesy of Royal Dutch Shell.

Royal Dutch Shell said Wednesday that it will cut over 2,000 additional jobs this year.

According to Reuters, the company will cut another 2,200 jobs, pushing its 2016 job cut target up to 12,500.

About 475 of the newly announced job cuts will be made in the company’s upstream UK and Ireland business.

Further details about the headcount reduction have not been disclosed.

“Despite the improvements that we have made to our business, current market conditions remain challenging,” Shell’s vice president for UK & Ireland Paul Goodfellow told Reuters.

Shell announced in December that it would cut 2,800 jobs following its merger with BG Group.

Those cuts were in addition to Shell’s previously announced plans to reduce its headcount and contractor positions by 7,500 globally.

Shell and BG had a combined headcount of about 94,600 at the end of last year, Reuters said.

Shell posted a first quarter net income attributable to shareholders of $484 million, down from $4.43 billion in the same quarter of last year.

Current cost of supplies (CCS) earnings attributable to shareholders fell 83 percent year-over-year to $814 million in the first quarter.

Total revenue and income fell to $49.73 billion in the first quarter from $68.84 billion in the year ago quarter.

Upstream earnings excluding identified items plummeted to a loss of $1.43 billion compared to a loss of $195 million a year ago.


Leave a Reply