landowner

Shell restructuring puts 24,000 jobs at risk

"Last week, in a huge embarrassment for Shell, angry investors rejected its executive pay plan and called for the pay-setting committee to resign. "

Up to 24,000 jobs are at risk in Shell after the Anglo-Dutch oil group unveiled plans for a major restructuring.
The oil giant this morning revealed a shake-up in which its exploration and production, gas and power and oil sands units are to be merged into two new divisions.
About 24,000 staff will be "impacted" by the changes - nearly one fifth of the group's 102,000 worldwide workforce - and redundancies are expected. Sources said that more than 30 per cent of senior executives in the two divisions could go.
The move forms part of efforts by Peter Voser, the group's chief executive-designate, to stamp his mark on the company and help it better to weather the problems caused by the plunge in oil prices, which hit a record $147 a barrel in July but are now at $63.
The changes began yesterday with the abrupt departure of Linda Cook, head of the gas and power division and a former contender for the chief executive post.

Complete article here:

http://business.timesonline.co.uk/tol/business/industry_sectors/nat...

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landownerPermalink Reply by sesport on May 27, 2009 at 15:17
No mention of how many US jobs will take a hit. Wonder what the other Big 3 are experiencing?

Good read, thanks - sesport :0)

landownerPermalink Reply by Sandstone on May 27, 2009 at 16:49
I am afraid there will be a large number in the US. I think they are all consolidating and outsourcing on a grand scale...

landownerPermalink Reply by sesport on May 30, 2009 at 11:54
I had a link that stated (I believe) that Shell has 22K employees in 50 states. In going back to look for it, I also found this from over a month ago.

http://www.shell.com/home/content/investor/news_and_library/press_r...

Now Shell is bringing us Gazprom LNG???? I wonder if the folks out west realize their hard earned money is going to Russia? Wonder if Russia will threaten to cut off their supply if they fall behind in their payments? I'm all for global economy & trade, but I prefer it with those who "play fair & play nice." IMHO, cutting off supply at critical periods does not qualify as such.

Thanks for the heads-up - sesport :;0)

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