Royal Dutch Shell, cutting 6500 jobs on oil price slump
Royal Dutch Shell
London - Arab Today
Royal Dutch Shell on Thursday said it plans to reduce its headcount by 6,500 this year owing to sliding oil prices and as it looks to complete a mega takeover.
"Today's oil price downturn could last for several years, and Shell's planning assumptions reflect today's market realities," the company said in a statement, adding that it anticipates "some 6,500 staff and direct contractor reductions in 2015".
Shell earlier this year unveiled a mega-takeover of British rival BG Group worth £47 billion ($73 billion, 67 billion euros), as the two firms consolidate their positions in a sector slammed by the oil price slump.
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