As part of cost-cutting strategy due to the dwindling fall in oil prices which is believe to last the next few years,Royal Dutch Shell has announced plans to cut 6,500 job losses this year as a result of the collapse in world oil prices.
The London-listed oil firm warned that it was "planning for a prolonged downturn" in prices, lasting several years, as it moved to slash costs for 2015 by 10%
It said that its investment plans for the year were also being scaled down, by £4.5bn, and it expected to cut more in 2016.
The company made the announcement as it confirmed half-year pre-tax profits of £5.2bn - down 16%.
No comments:
Post a Comment