30 October 2006
Calgary (Reuters) – Shell Canada Limited looks headed for big staffing changes after its Anglo-Dutch parent buys out minority shares, but that may not mean across-the-board layoffs, industry watchers said Friday.
Royal Dutch Shell Plc, one of the world’s biggest oil companies, is offering $40 a share, or $7.7 billion to buy out the 22% of Shell Canada it does not already own.
After the buyout, some Shell Canada departments, such as investor and public relations, will likely be cut or drastically reduced in size. After all, the company, which employs about 5,000 people, will no longer have its own shareholders to report to. For the rest of the company, which includes profitable oil sands, natural gas, refining and marketing businesses, things are not so easy to predict.