Shell Swings Axe Again, Extends Job Cuts to M&A Team

Shell's relentless push for cost reduction shows no signs of slowing down, with the oil and gas giant extending its job cuts to its mergers and acquisitions (M&A) unit. The company plans to eliminate around 20% of positions within the team, potentially affecting hundreds of employees.

This move aligns with Shell's previously announced strategy of streamlining the organisation and achieving significant cost savings through staff reductions. It follows last year's announcement of a 15% workforce reduction in the Low Carbon Solutions division, hinting at a shift towards core oil and gas operations while sacrificing some green energy ambitions.

News of the M&A team cuts comes on the heels of a broader internal announcement in December 2023 outlining job cuts across multiple departments.  This has already resulted in hundreds of layoffs in early 2024.  Shell's focus centers on "creating more value with fewer emissions" through stricter performance standards, streamlining operations, and reducing headcount.  The company aims to achieve these goals through a strategic portfolio review, identifying efficiencies, and building a leaner organisation overall.

While the M&A team faces the immediate brunt of the reductions, reports suggest that cuts will continue in departments like corporate affairs and project and technology.  The future for many Shell employees remains uncertain as the company priorities cost savings and profit margins in the oil and gas sector.