Shell Implements Job Cuts In A Cost Cutting Exercise

Shell is implementing a new round of layoffs as part of its cost restructuring exercise. As per media reports, the oil and gas major is expecting a rollback in structural costs to the tune of $ 3 Bn.

Although the company has not disclosed the number of employees and the nature of roles affected, it is learned that it will offer redundancy packages to the laid-off employees. 

Earlier in October, Shell had announced that it is going to cut 15 percent of jobs in the company's low-carbon solutions division. 

Like many other companies, Shell is undergoing realignment and restructuring of its operations to concentrate on its core businesses that will add to the bottom line.