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Posts under ‘Shell Job Cuts’

Shell’s Debt Nears Edge of Comfort Zone as Rout Boosts Borrowing

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Net debt increased to a record $75 billion at the end of June from $70 billion three months earlier, Shell said Thursday as it reported a slump in second-quarter earnings. Additional borrowing drove up the ratio of net debt to capital, or gearing, to 28.1 percent — more than double the year-earlier level.

“We’re close to the maximum level and it could go up still with the oil price where it is,” Chief Financial Officer Simon Henry said on a conference call. “Thirty percent is an upper limit to where we can describe our position as comfortable.”

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Shell focusing on ‘lasting changes’

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THE HAGUE, Netherlands, July 28 (UPI) — Lower crude oil prices continue to present problems for the industry and Shell is now focused on retooling efforts, the chief executive officer said.

“We are making significant and lasting changes to Shell’s working practices and cost structure,” CEO Ben van Buerden said in a statement.

Shell, moving through the year after a merger with British energy company BG Group, said net income during the second quarter fell more than 70 percent to $1.18 billion. The company attributed the decline in part to some of the fiscal pressures from its $7 billion tie-up with BG Group, weak industry conditions and tougher tax regimes.

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Hundreds of North Sea workers down tools on Shell oil rigs

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Screen Shot 2016-07-26 at 16.45.26Jillian Ambrose26 JULY 2016 • 1:26PM

Around 400 North Sea oil workers have downed tools on Shell oil rigs in the sector’s first spate of industrial action in 28 years.

The 24-hour strike began at 6.30am on Tuesday alongside an ongoing refusal to work overtime and will be followed by further stoppages in the weeks to come, trade union Unite warned.

Offshore oil workers employed by Wood Group to work on Shell’s giant Brent oilfield platforms voted overwhelmingly in favour of strike action earlier this month, after talks over plans to bring in longer hours and lower pay broke down.

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Shell to Lay Off 200 Gulf of Mexico Rig Workers

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Shell to Lay Off 200 Gulf of Mexico Rig Workers

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A Shell platform in the Gulf of Mexico (courtesy RDS)

By MarEx 2016-07-25 

Shell has announced plans to trim about 200 jobs from its Gulf of Mexico deepwater operations.

“We are making these changes in order to remain competitive and better position Shell’s Gulf of Mexico projects for future growth,” spokeswoman Kimberly Windon told the AP.

The cuts will affect personnel on nine facilities, and will reduce the oil major’s workforce in the region by about one quarter. Some will be transferred to other operations where openings are available.

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Is Gas The Future? Shell Seems To Think So

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By Gregory Brew – Jul 20, 2016

The world’s second largest private oil company sees a new future, and it’s not in oil.

Shell has made a concerted effort to shift the bulk of its business from oil-related projects to natural gas, LNG and renewables. Coming on the heels of its February purchase of BG Group (a $54 billion acquisition), Shell has organized a division focused solely on renewable energy. It announced new investment for its LNG facility on Curtis Island in Australia, where natural gas has enjoyed $180 billion in new capital. It has emerged as a stronger voice on global climate change than its competitor ExxonMobil and the company’s website proposes a number of “Shell Scenarios” that could allow for a growing energy market while creating less CO2.

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Royal Dutch Shell: Huge Dividend And Long-Term Growth Ahead

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Wayne Duggan: 20 July 2016

A number of British stocks have been hit hard since the referendum vote to leave the EU, but Royal Dutch Shell (RDS.A, RDS.B) is not one of them. Shares are now up 0.3% since the Brexit vote after initially falling more than 8% during the knee-jerk market sell-off.

With the possibility that the Brexit could severely impact British GDP growth in coming years, RDS.B offers a unique opportunity to invest in a company within a sector that is in a global upswing, a company that has significant international exposure and a company that is committed to maintaining the single largest dividend payment in the MSCI World Index.

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S&P trims rating on oil major

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by Tsveta ZikolovaWednesday, 13 Jul 2016, 14:09 BST

Standard & Poor’s has trimmed its rating on Royal Dutch Shell (LON:RDSA), the Financial Times has reported. The move has been prompted by the group’s £35-billion takeover of former smaller London-listed peer BG Group completed earlier this year.

Shell’s share price has been little changed in today’s session, having lost 0.07 percent to stand at 2,106.00p as of 13:25 BST. The shares are marginally underperforming the broader London market, with the benchmark FTSE 100 index having inched 0.12 percent higher to 6,688.62 points. Shell’s shares have gained nearly 16 percent over the past year, and are up just under 38 percent in the year-to-date.

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UPDATE 1-Shell takes sacked UK workers overseas service tax breaks

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Tom Bergin

(Adds employee reaction, website link)

LONDON, July 7 (Reuters) – Royal Dutch Shell has changed its redundancy terms so it can claim tax refunds that some UK workers would otherwise have been able to claim on redundancy payments, internal documents seen by Reuters show.

The move comes as the Hague-based oil giant is slashing 5,000 jobs this year following the collapse in oil prices and its merger with smaller UK rival BG Group.

The UK government allows employees who have worked part of their career overseas to reclaim some, or in some cases all, of the tax due on severance payments.

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Shell takes sacked UK workers overseas service tax breaks

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Royal Dutch Shell has changed its redundancy terms so it can claim tax refunds that some UK workers would otherwise have been able to claim on redundancy payments, internal documents seen by Reuters show. Copies of one presentation have been published on Shell protest site: http://royaldutchshellplc.com/

By REUTERS: PUBLISHED: 17:30, 8 July 2016

By Tom Bergin

LONDON, July 7 (Reuters) – Royal Dutch Shell has changed its redundancy terms so it can claim tax refunds that some UK workers would otherwise have been able to claim on redundancy payments, internal documents seen by Reuters show.

The move comes as the Hague-based oil giant is slashing 5,000 jobs this year following the collapse in oil prices and its merger with smaller UK rival BG Group.

The UK government allows employees who have worked part of their career overseas to reclaim some, or in some cases all, of the tax due on severance payments.

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Shell depriving ex-workers of tax breaks on redundancy pay – report

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Written by Mark Lammey – 08/07/2016 11:33 am

Shell (LON: RDSB) will scoop up the tax breaks on redundancy payments that had been available to departing workers, a news report said yesterday.

So-called foreign service relief allows UK workers who have spent parts of their careers abroad to reclaim some of the tax due on severance pay, but Shell has moved to claim the money instead, Reuters reported.

According to the report, which cites internal documents from Shell, the company introduced the policy on April 1.

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Greedy Shell Takes Redundant Employees Tax Breaks

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By John Donovan

Shell has resorted to taking tax breaks intended for redundant employees in order to help maintain its dividend and ensure that senior managers involved in the BG merger vanity project keep THEIR jobs.

Employees in the UK are taxed on redundancy payments over £30k.  However, HMRC provides an exemption for employees who have worked abroad allowing them to reclaim some or all of the tax.  Despite the fact that Shell UK redundancy terms have deteriorated over recent years and are now significantly less generous than their Dutch colleagues receive, Shell UK has decided that it is entitled to the overseas employment tax breaks not the employee.

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Shell Warns Of Further Job Cuts

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Screen Shot 2016-06-30 at 18.15.43By Irina Slav – Jul 05, 2016, 9:02 AM CDT

Shell may have to cut more jobs after laying off 12,500 people over the past year, CEO Ben van Beurden told The Telegraph. The new cuts would be prompted by a “continuous improvement drive,” he added.

Elaborating on what this drive would imply, Van Beurden noted jobs are becoming unnecessary as business operations get shut down, or positions being moved to another part of the world, or becoming redundant because of the drive for enhanced business efficiency.

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Shell job losses could be worsened by Brexit vote

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Oil giant Royal Dutch Shell has warned over the possibility of further job cuts.

The risk of more job losses is a result of uncertainty caused by the UK’s vote to quit the European Union, City A.M. understands.

Since last year Shell has slashed 12,500 jobs following the fall in oil prices and its tie-up with rival BG.

At the time of Shell’s initial takeover bid for BG Group last year it had 93,000 employees. Meanwhile, BG Group’s staff numbered around 5,000.

The deal came amid a collapse in oil prices, which fell from over $115 per barrel in the summer of 2014 to as low as $27 in February this year.

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Shell boss warns more job losses at the firm could “absolutely” happen

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Written by Mark Lammey – 03/07/2016 3:17 pm

The boss at Royal Dutch Shell (LON: RDSB) has reportedly said further job losses could “absolutely” take place at the company.

Shell chief executive Ben van Beurden said in an interview with the Sunday Telegraph cuts were always a possibility in the absence of large deals being struck.

Shell is axing about 12,500 roles this year due to a combination of low oil prices and its takeover of BG Group.

In May, the firm said the headcount for its North Sea operations would drop by 475 to 1,700 as part of the reductions.

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Shell boss taking ‘a good look’ at North Sea assets

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Friday, 1 July 2016

Royal Dutch Shell’s chief executive has told the BBC he is taking “a good look” at the company’s North Sea assets, in the light of weak oil prices.

Ben van Beurden said that some older fields might be sold and others decommissioned.

He also said the company’s dividend payout was “safe and secure”, despite tough conditions for oil companies.

With an annual payout of $15bn (£11bn), Shell is the biggest payer of dividends among UK companies.

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Shell wants Scotland to remain in UK despite Brexit uncertainty

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MARK WILLIAMSON: 1 JULY 2016

ROYAL Dutch Shell has highlighted uncertainty caused by the Brexit vote but said it wants Scotland to remain part of the UK.

Chief executive Ben van Beurden made clear the oil and gas giant’s unease at the shock outcome of last Thursday’s vote, which he said had posed a risk to economies across Europe.

“The outcome of the EU referendum has created uncertainty. It’s crucial that the European governments keep a steady hand on the tiller of the economy in these unprecedented, unpredictable circumstances,” the Dutch executive told a conference in London.

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Report: Shell’s Martinez refinery could be sold

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By Sam Richards , [email protected]

Screen Shot 2016-05-21 at 10.18.28MARTINEZ — Two published reports Friday say the Shell Martinez Refinery is up for sale, prompted by what are expected to be crude oil prices rising faster than gas prices at the pump.

The reports, one of them from the international news agency Reuters, say the Netherlands-based global energy company Royal Dutch Shell is looking to shed some of its smaller, less profitable refineries ahead of the anticipated price hike for crude.

The Reuters story said Shell and at least three other major oil companies, including San Ramon-based Chevron, have seen dropping profit margins from their refining operations since a peak in 2015 and want to shed some lower-profit operations before crude oil prices rise much further from recent low levels.

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Britain to shed a quarter of its oil jobs since price fell – industry

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Friday 10 June 2016

Screen Shot 2016-05-21 at 10.18.28LONDON (Reuters) – As many as 120,000 oil workers will have lost their jobs in Britain by the end of the year compared to mid-2014 when oil prices started declining and unleashed sector-wide cost cuts, the industry’s lobby group said on Friday.

Britain’s oil industry and indirectly related jobs like supply chain and services are estimated to fall to 330,000 by the end of the year, down from 450,000 in 2014, Oil and Gas UK said in a report.

Major British oil industry employers like Royal Dutch Shell (RDSa.L), BP (BP.L) and Chevron (CVX.N) have all announced substantial job cuts in order to rein in costs as revenues have been hit hard by weak oil prices.

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Shell cuts cost for the rest of the decade after takeover

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By DAVID SHANDPUBLISHED: 00:03, Wed, Jun 8, 2016

The company set out its plans to create a “world class investment case” for shareholders following its £35billion takeover of fellow FTSE 100 oil and gas giant BG Group, which will include more asset sales and cost-cutting.

In its presentation to investors, Shell said it would squeeze an extra $1billion (£690million) in savings from the BG deal from an earlier $3.5billion forecast.

It aims to sell 10 per cent of its oil and gas production by exiting operations in up to 10 countries.

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Royal Dutch Shell’s High-Wire Act

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By PAUL J. DAVIES: June 7, 2016 11:48 a.m. ET

For Royal Dutch Shell , austerity is tricky. The Anglo-Dutch oil and gas group is doing almost everything it can to make its finances work. The trouble for investors is that it still may not be enough.

Shell has found more cost savings more quickly from its takeover of BG Group and is slashing its investment plans back to almost the minimum needed to keep producing. But without a recovery in oil and gas prices it will struggle to balance its long-term prospects with near-term promises.

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Shell’s bonus for City as drilling for savings yields extra $1 billion

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RUSSELL LYNCH: 7 June 2016

Royal Dutch Shell boss Ben van Beurden delivered a $1 billion (£688 million) present to the City today as he pumped up more savings from the oil major’s $54 billion mega-merger with rival BG Group.

The shares rose almost 3%, or 48p, to 1749p as the cost-cutting drive, which has stepped up a gear since the deal completed in January, now promises $4.5 billion in savings by 2018. 

That compares with the $3.5 billion previously estimated.

The latest savings will not involve further job cuts on top of the extra 2200 announced two weeks ago by the firm, which took the total number of jobs shed through the merger to at least 12,500. 

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Shell Deepens Spending Cuts, Promises More Savings From BG

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By Rakteem Katakey and Ryan Chilcote: June 7, 2016

Royal Dutch Shell Plc cut spending plans further and promised increased savings following its record purchase of BG Group Plc, as Europe’s largest oil company continues to adjust to the slump in energy prices.

Shell will spend $29 billion this year, it said Tuesday. That compares with a May forecast for capital expenditure “trending toward” $30 billion, which was itself down from an earlier projection of $33 billion. Synergies from the BG acquisition will provide $4.5 billion in savings in 2018, up from an earlier estimate of $3.5 billion.

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Report suggests Shell may be about to reveal more cost-cutting

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Screen Shot 2016-05-21 at 10.18.28Written by Keith Findlay – 06/06/2016 7:09 am

Oil giant Shell may be about to announce further cost cutting and a possible delay to its plans to offload assets, a report said yesterday.

Chief executive Ben van Beurden is under “increasing pressure” to justify the firm’s £35billion takeover of BG Group in the middle of a severe oil and gas industry slump, it added.

Shell is holding a capital markets day for investors tomorrow and it is thought it may update on its sale plans and fresh cost-cutting then.

Last month, Shell chief financial officer Simon Henry said cost levels in the North Sea needed to come down “substantially”.

Action already taken to integrate BG within Shell’s operations, including job cuts, were “probably about it for now” but he did not rule out further headcount reductions.

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Shell poised for deep cuts as BG casts shadow

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Danny Fortson: June 5 2016, 12:01am, The Sunday Times

Shell could show fresh signs of financial strain from its takeover of rival BG this week as it lays out plans for deeper cost-cuts and a potential delay in the mammoth asset sale launched by the oil giant to help pay for the £35bn deal.

Chief executive Ben van Beurden is under increasing pressure to justify the blockbuster acquisition, which he pulled off despite the plunging oil price.

Crude closed on Friday at $49 a barrel, less than half its 2014 high.

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Shell jobs: Move means “lower forever”

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Written by Erikka Askeland – 26/05/2016 7:45 am

Paul Goodfellow, Shell’s Vice President for UK & Ireland, has said that despite the “tough message” he had to deliver yesterday to staff in Aberdeen, he saw green shoots of sustainable change emerging in the North Sea.

The 475 North Sea job cuts – part of a wider round of 2,200 across Shell’s global operations – comes after a 90 day review since Shell’s £36million mega-merger with BG Group earlier in the year.

He said this most recent round of job losses was not just in response to “lower for longer” – the common industry view that oil will stay around $50 for the forseeable future – but “lower forever”.

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‘Difficult time’ for oil workers as Shell workforce is slashed

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By GREG CHRISTISONPUBLISHED: 22:22, Wed, May 25, 2016 

The move, announced yesterday, is a result of the firm’s £35billion merger with the BG Group and the prolonged slump in oil prices. 

A total of 475 positions will be lost from the company’s UK and Ireland upstream business, which deals primarily with exploration, by the end of the year. 

All job losses are expected to affect Scotland – home to around 2,200 Shell employees – with most coming from the firm’s Aberdeen headquarters. Around 40 offshore posts will be cut and there will also be losses at St Fergus Gas Terminal, in Aberdeenshire, and the firm’s plant at Mossmorran, in Fife.

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Ministers pledge support as Shell axe 475 North Sea oil jobs

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Screen Shot 2016-05-21 at 10.18.28By PAUL WILSON: Wednesday 25 May 2016

SCOTLAND’S oil and gas sector is reeling from yet another hammer blow after Shell announced plans to slash its UK workforce by a fifth.

The oil giant said it will cut 475 people from its UK and Ireland business. All the jobs are understood to be based in Aberdeen and the north-east.

Shell announced it will lose 2,200 jobs from its workforce globally as it grapples with lower oil prices, meaning 12,500 staff and contractor roles will be lost between the start of 2015 and the end of this year.

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Shell to cut another 2,200 jobs

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The cuts are mainly due to Shell’s takeover of oil and gas exploration firm BG Group and prolonged low oil prices, it said.

Shell has announced more than 10,000 job losses over the past two years.

In February, the firm posted its steepest fall in full-year earnings for 13 years.

“Despite the improvements that we have made to our business, current market conditions remain challenging,” said Shell UK and Ireland vice president Paul Goodfellow.

“Our integration with BG provides an opportunity to accelerate our performance in this ‘lower for longer’ environment.

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Shell to Cut at Least Another 2,200 Jobs Globally

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By THE ASSOCIATED PRESS: LONDON — May 25, 2016, 6:08 AM ET

Anglo-Dutch oil company Royal Dutch Shell says it will trim at least 2,200 jobs globally amid challenging times in the oil industry.

The losses are in addition to cuts already being implemented because of the energy company’s merger with BG. The losses will include some 475 positions in the North Sea.

Oil companies around the world are slashing jobs and postponing investments to adjust to lower energy prices. Prices have fallen because production remains high even as slower economic growth, particularly in China, reduces consumption.

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Oil giant Shell to cut 475 jobs from North Sea workforce

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Chris Foote: Wed 25 May 2016

Dutch oil giant Shell plans to cut nearly 500 jobs from its North Sea workforce.

The announcement on Wednesday came as the result of a £47bn merger with the BG Group.

All 475 jobs are expected to be lost by the end of the year, along with 4500 others worldwide.

It is believed to be one of the largest announcements of North Sea job losses in recent years.

UK and Ireland Shell vice-president Paul Goodfellow said: “We’re continuing the improvement journey we’ve been on to create a competitive and sustainable business in the North Sea.

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Shell braced for shareholder pay revolt

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Jillian Ambrose21 MAY 2016 • 7:47PM

Shell executives are braced for a shareholder backlash this week after influential retail advisor ShareSoc joined the growing rebellion against its multi-million pound executive pay.

The UK’s largest individual investor group will urge its 4,000 members to follow the lead of major Shell investor Royal London Asset Management and proxy institutional advisors in opposing Shell’s rising pay packet for boss Ben Van Beurden.

Mr Van Beurden is in line for a salary of £1.4m, a bonus of £3.5m, and a pension of £441,000 for 2015, despite reporting its steepest losses in 13 years and a planned job cull of 10,000. He has also received shares worth £9.7m, which vest in three years if he meets key performance targets.

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Shell’s brutal and unfair approach to reducing staff numbers

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UPDATED WITH MORE COMMENTS

BY “FRUSTRATEDATSHELL”

Interested to know if any current Shell employees have picked up on the unfair approach to the current reorganisation.

Management in Netherlands are seeking RFA’s and operating to a different timeline to the UK and Australia, with Australia being able to steam ahead with their reorg plans as they do not have the same constraints. So much so, that impacted employees are being asked to second guess whether they need to apply for jobs in their base countries or to stick tight and see out the brutal and unfair approach to reducing staff numbers in their current host countries.

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More North Sea job cuts on the cards at Shell

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Screen Shot 2016-05-05 at 10.07.35BY MARK WILLIAMSON: Thursday 5 May 2016

ROYAL Dutch Shell’s finance chief, Simon Henry, has said there could be more job losses in its North Sea business amid the crude price plunge but the company has no plans to move activity from the Glasgow shared service centre where 450 people work.

As the oil and gas giant posted a 58 per cent fall in first quarter profits, to $1.6 billion (£1.1bn), Mr Henry said Shell wanted to take more cost out of its UK business despite shedding 500 North Sea jobs since the oil price started tumbling in 2014.

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Shell finance chief refuses to rule out further North Sea job losses

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Screen Shot 2016-04-25 at 15.56.32Written by Phil Allan – 04/05/2016 12:34 pm

Shell’s finance chief has refused to rule out further job losses in the North Sea as the oil giant announced its earnings had dropped by $4billion dollars in the first quarter of 2016.

Chief financial officer Simon Henry said the voluntary redundancy packaged announced recently announced as a result of Shell’s acquisition of BG Group, may not be the last to affect the North Sea as the company continues to look at cut costs from its global operation.

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Shell cuts spending further after BG deal

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LONDON | BY RON BOUSSO AND KAROLIN SCHAPS:Wed May 4, 2016

Royal Dutch Shell (RDSa.L) on Wednesday cut its 2016 spending by another 10 percent after completing the $54 billion acquisition of BG Group, warning that low oil prices will continue to weigh.

In its first earnings results since the Feb. 15 deal that transformed it into the world’s top liquefied natural gas producer, Shell reported better-than-expected first-quarter results despite a 58 percent drop in profits.

Reflecting the deal, Shell said it sold 12.29 million tonnes of LNG in the first quarter, up 25 percent year on year. Shell’s overall oil and gas output rose 16 percent.

Shell, however, warned that low oil and gas prices, significant maintenance at production sites as well as “substantial redundancy and restructuring charges” will impact second-quarter earnings.

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Shell’s blockbuster BG bid backfires as gas prices deflate

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Danny Fortson:    Published 1 May 2016

Nearly 300 staff gathered in the canteen of BG Group’s sprawling headquarters in Reading on Monday morning to hear what they had long been expecting: nearly all of them were being laid off or being forced to apply for new jobs.

Shell closed its blockbuster takeover of the gas giant in February. Huibert Vigeveno, a rising star within Shell charged with integrating the companies, announced that after an “office footprint review”, BG’s headquarters would shut.

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Shell starts staff cut discussions with employees in Australia

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Business | Wed Apr 27, 2016 

Shell (RDSa.L) has started discussions with employees in Australia about job reductions, the company said on Wednesday, as part of plans to cut 10,300 jobs worldwide to lower costs.

“Shell last week commenced conversations with employees about business efficiency and staffing levels – as a result of combining it with the previously BG-owned QGC – a process that will lead to job reductions,” a spokesman said.

Shell is in the process of integrating assets it acquired as part of its $50 billion (£34.2 billion) takeover of gas producer BG Group, including BG’s Australian subsidiary QGC.

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Shell to axe jobs as cost-cuts hit home

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Shell last week informed local staff that it was starting a round of job cuts, with a large portion of workers within the company asked to re-apply for their current positions.

While no fixed target has been set, it is estimated that about 250 jobs around Australia are likely to go as a result of the changes.

The round of job cuts follows Shell’s recent takeover last year of BG Group. The redundancies will remove many of the overlapping roles inherited through the takeover.

Shell had already flagged that it would axe about 2800 jobs worldwide as a result of the BG takeover, as well as a further 7000 around the globe as part of its response to the plunge in oil and gas prices.

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Shell to close three UK offices housing 1,600 staff

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Nick FletcherMonday 25 April 2016 13.56 BST

Royal Dutch Shell is closing three UK offices, affecting 1,600 employees, including BG’s headquarters in Reading, after its £35bn takeover of the oil and gas company earlier this year.

It has also begun a voluntary redundancy programme as part of a plan to cut 10,300 jobs across the merged group, comprising 7,500 from the original Shell business, as it attempts to cope with the recent plunge in oil prices, and another 2,800 following the merger with BG.

FULL ARTICLE

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Shell Outlines BG Consolidation Plans

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April 25, 2016 7:24 a.m. ET

LONDON— Royal Dutch Shell PLC will offer a new voluntary severance program for employees and plans to close a number of U.K. offices in the wake of its roughly $50 billion acquisition of BG Group PLC, the company said Monday.

The Anglo-Dutch oil giant has proposed plans to consolidate its London operations in central London and close its Thames Valley Park campus by the end of the year. The company also intends to close BG’s offices in Aberdeen by the end of 2016 and Shell’s Manchester offices by the end of 2017.

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Shell announces major office changes after BG takeover

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The company is cutting more than 10,000 jobs across the world, with 2,800 of those connected with the BG deal.

Shell plans to close the Thames Valley Park campus by the end of the year.

All Aberdeen-based onshore operations will move to Tullos, with BG’s offices at Albyn Place closing, as will Shell’s Brabazon House office in Manchester.

Shell said the decisions were subject to the outcome of staff consultation.

The company is also planning to open a voluntary redundancy arrangement at Thames Valley Park.

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Shell to close BG office in Aberdeen this year with job cuts expected

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Shell to close BG office in Aberdeen this year with job cuts expected

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ROYAL Dutch Shell has announced plans to close the BG North Sea head office in Aberdeen where around 300 people work in a move which is expected to lead to further job cuts in the city.

The Anglo Dutch oil giant will run the enlarged North Sea Business formed by the £35bn takeover of BG from its office in the Tullos area of Aberdeen.

Led by chief executive Ben van Beurden, Shell said all 300 BG staff will relocate to Tullos initially. They will be able to apply for redundancy under a voluntary severance programme which is expected to result in an undisclosed number of jobs being cut.

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Shell to close BG head quarters near London by year end

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As part of the 10,300 job cuts it has already announced, 2,800 will come from the integration of BG and 7,500 from its existing staff and direct contractor base.

Business | Mon Apr 25, 2016 

Royal Dutch Shell (RDSa.L) will close the head office of BG Group, the gas producer it agreed to acquire for $50 billion in February, by the end of the year, it said on Monday, as part of a plan to save costs and cut 10,300 jobs worldwide.

The oil major will also offer voluntary redundancy packages to staff at the BG headquarters in Reading, near London, and to Shell staff in the UK.

This follows a similar announcement made to Dutch staff earlier this month.

The oil company is under intense pressure to rein in costs as a slump in oil prices has hit its profits.

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Shell starts voluntary redundancy process for Dutch staff

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Wed Apr 20, 2016

Shell said it had started a voluntary severance process in the Netherlands as part of a plan to cut around 10,300 jobs worldwide.

The oil company is under pressure to rein in costs as a slump in oil prices has hit its profits.

“Shell can confirm it has introduced a selective voluntary severance programme in The Netherlands,” a spokesman said.

The programme could be rolled out elsewhere and staff would be notified before external announcements are made, he said.

Shell has around 11,000 directly employed staff in the Netherlands.

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Shell offers well-paid office staff redundancy, hundreds of jobs to go

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20 April 2016

Shell is offering office personnel earning more than €75,000 a voluntary package to leave the company, the AD says on Wednesday, quoting union and company sources.

The company hopes this will enable it to cut the workforce by hundreds of jobs without launching an official reorganisation, the paper says.

The offer has been made to staff at Shell’s training and R&D centres in Rijswijk and Amsterdam as well as at the Shell HQ in The Hague and at NAM, Shell’s natural gas joint venture with ExxonMobil.

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SHELL TO SLASH 2,000 NETHERLANDS JOBS

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by Janene Pieters: 20 April 2016

Shell is cutting some 2 thousand jobs in the Netherlands. The oil company aims to get rid of 15 to 20 percent of the abut 10 thousand employees working in Amsterdam and Rijswijk as part of a cost-cutting plan to cope with the low oil prices, AD reports.

The company launched a voluntary departure scheme. Office staff with a salary of 75 thousand euros per year or higher can resign voluntarily for compensation. Employees can register for voluntary departure until July 1st.

According to union FNV, Shell is hoping to avoid an official reorganization with the voluntary departure scheme. “Shell first wants to see whether enough employees volunteer”, director Egbert Schellenberg said to the newspaper.

Employees working at the Pernis refinery and the petrochemical complex in Moerdijk do not qualify for the voluntary departure scheme as those two branches already face staff shortages.

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Shell moving some jobs from New Orleans to Houston

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By Jennifer Larino, NOLA.com | The Times-Picayune: 18 APRIL 2016

Shell will relocate some jobs from New Orleans to Houston as it moves forward with plans to cut its global workforce by 10,000 employees and contractors. The company started cutting jobs last year in response to low oil prices.

Details are sparse on how the global cuts affect the roughly 1,900 workers based in One Shell Square in downtown New Orleans. Shell says it does not provide layoff counts by region. Workers close to the situation have reported that jobs may be moving to Houston in addition to cuts. They asked not to be named to protect their jobs.

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Shell Could Save $4.5 Billion by Matching BP Productivity: Chart

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Screen Shot 2016-03-15 at 10.34.57By Rakteem Katakey: April 12, 2016

Royal Dutch Shell Plc could reduce operating costs by as much as $4.5 billion a year if its employees matched the productivity of BP Plc, according to Morgan Stanley.

Shell’s output per employee in oil and gas exploration and production was 26 percent lower than BP’s last year, meaning Europe’s biggest oil company has scope to cut about 9,000 jobs in that division, Morgan Stanley analysts including Martijn Rats wrote in a report dated April 8.

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Former Centrica boss in talks to buy Shell oil assets

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By Jillian Ambrose, business reporter: 27 MARCH 2016

A $5bn investment fund, led by former Centrica boss Sam Laidlaw, is in talks to snap up assets from Shell’s $30bn oil and gas divestment drive.

Neptune Oil and Gas was launched last summer to hunt for oil and gas bargains, and has confirmed that it is in talks with Bank of America Merrill Lynch to take advantage of Shell’s ambitious sales plans.

A spokesman for the fund said that Shell’s assets are being considered as part of its wider strategy to target large-scale investment in distressed assets in the North Sea, North Africa and South East Asia.

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Shell may offload its North Sea operations

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Ben Chu: 27 March 2016

Shell is reportedly exploring a sale of North Sea oil assets. The oil major, which has completed its $35bn (£25bn) merger with BG, has begun sounding out buyers for operations. 

Shell’s boss, Ben van Beurden, has already pledged to divest $30bn (£21.5bn) of assets globally and has described the North Sea as “old and mature”.

The Sunday Times reported that there have been early talks with Neptune Oil & Gas, which was set up by Sam Laidlaw, the former boss of Centrica. About 2,500 of Shell’s 7,500 employees work in the North Sea. BG was created in 1997 when British Gas divested Centrica.

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