Shell expects 2,800 more job cuts after BG merger

Hague-based gas and oil giant Shell said on Monday it expects a reduction of about 2,800 jobs after completion of the proposed merger with BG.

This would represent approximately 3 percent of the total combined group workforce should the $70 billion takeover proceed, according to a statement by Shell.

These reductions are in addition to the previously announced plans to reduce Shell’s headcount and contractor positions by 7,500 globally,” the statement said.

Shell’s announcement comes after the proposed combination on Monday cleared its final regulatory hurdle with the approval of Chinese ministry of commerce.

According to Shell, the additional job losses would be required to “achieve the expected benefits of the recommended combination, including previously disclosed and reported-on pre-tax synergies of $3.5 billion“.

Further detailed work will be undertaken on the details of the proposed operational and administrative restructuring as part of ongoing integration planning,” Shell added.

 

LNG World News Staff

 

 

 

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Posted on December 14, 2015 with tags , .

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