Shell is preparing to cut 20% of jobs in some oil and gas divisions

(Bloomberg) — Shell Plc is set to cut about 20 percent of its workforce in some oil and gas exploration and development divisions as Chief Executive Officer Wael Sawan works to increase efficiency and profitability.

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It is the latest round of cuts following similar moves in the company’s deal-making team, as well as low-carbon solutions, chemicals and offshore wind. The layoffs would affect the company’s exploration, strategy and portfolio segment, as well as development, underground and well businesses, a person familiar with the matter said.

The proposed moves are pending engagement with groups representing employees, the person said.

“Shell aims to create more value with fewer emissions by focusing on performance, discipline and simplification across the business,” a company spokesman said by email.

The job cuts were first reported by Reuters.

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