Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Wales Online
Wales Online
National
Emma Munbodh & Robert Rowlands

Shell to cut 330 UK jobs over the next two years as Covid hits profits

Shell is to cut 330 jobs over the next two years as Covid continues to hit profits.

The oil giant is planning to shed a quarter of its workforce in Aberdeen by December 2022, the Mirror Online reports.

The oil sector has struggled since the pandemic after weakening economic activity saw demand for oil decline.

The plan would see 330 jobs would go from a total of 1,330 over the next two years.

The oil firm cited the switch to low-carbon electricity and the coronavirus pandemic as the reasons behind the cuts.

The firm, which employs 83,000 people worldwide, has been hit by a substantial drop in demand and profits since February last year.

The move forms part of wider plans to cut 9,000 jobs worldwide.

Royal Dutch Shell said the cuts would be implemented by 2022.

Bosses say they expect around 1,500 employees to take voluntary redundancy.

Shell has given no indication of where the job losses will happen.

The move comes five months after Shell cut its dividend - a regular payout to shareholders - for the first time since the Second World War.

Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.