Sector News

Shell to cut 2,800 jobs

December 16, 2015

Royal Dutch Shell PLC plans to shed 2,800 jobs after merging with BG Group PLC next year.

The job cuts were announced on the same day that Shell and BG said Chinese regulators had given “unconditional” approval for the merger, the final major antitrust hurdle the companies said they faced.

The job cuts would be in addition to the elimination of 7,500 positions at Shell announced earlier this year.

The deal has been in the works since April when Shell agreed to buy the BG Group for $71 billion. The decision was made in order to give Shell a 25 percent increase in oil and gas reserves, as well as a larger stake in the liquefied natural gas market.

As reported by HCN newspartner ABC-13 KTRK, a statement from Shell read: “The deal remains on track for completion in early 2016.”

Shell also said it had received the go-ahead in the last major regulatory hoop, clearance from the Chinese. The deal has already been signed-off by the European Union, Australia, and Brazil.

No information on which jobs would be cut or what operations would be impacted was immediately available.

Source: Your Houston News

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