SHELL to retrench further in 2010 and 2011

17Mar10

Royal Dutch Shell will  retrench 1000 of their staff in each of 2010 and  2011 . Shell employs 100 000 . What does this means to Shell Sarawak and Sabah ?

Details of Shell plans is here :

Global energy giant Royal Dutch Shell revealed yesterday that it will axe another 1,000 positions by 2011, on top of the 1,000 job losses already earmarked for this year. Chief executive Peter Voser announced the latest round of job cuts as he presented the group’s annual strategic update.

“The company had become too complicated and slower to respond than we’d like. So we are sharpening up,” said Voser, whose group already axed 5,000 jobs last year in a bid to streamline its operations.

He added: “The priorities are for a more competitive performance, for growth and for sharper delivery of strategy.

“We have more to do to drive out cost and improve the operating performance in the firm.”

Shell, which has about 100,000 staff worldwide, also forecast yesterday that its output will soar by 11 per cent between 2009 and 2012, and it unveiled a ‘new wave’ of investment in production.

“Upstream production is expected to reach 3.5 million barrels of oil equivalent per day in 2012, an increase of 11 per cent from 2009,” Shell said in a statement.

“In addition, the company is assessing over 35 new projects from some eight billion barrels of oil equivalent resources, which should underpin upstream growth to 2020,” the company added. – AFP

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