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Shell axes 400 more Euro jobs

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Oil and gas giant Shell revealed today it is to shed 400 more workers in a massive cost-saving drive. Photo: Ian Rutherford

Edinburgh Evening News: Shell axes 400 more Euro jobs

SHELL, the Anglo-Dutch oil and gas giant, has announced a further 400 job losses across Europe.

The news came on the back of staff cuts announced earlier in the week due to the restructuring of its exploration and production business.

The creation of EP Europe, a new eight-country operating division, will see a staff reduction of 1300 and not the 900 originally forecast. Shell’s exploration and production operations currently employ around 5450 staff in Europe.

Just two weeks ago, Shell said 350 UK North Sea staff and contractor jobs would be lost, but a further 260 posts have been added to that.

Around 200 of them will be onshore jobs at Lowestoft in East Anglia. Another 100 jobs will go in Aberdeen and London.

Shell’s restructuring is part of the company’s drive to make cost savings of between £320 million and £510m by 2006.

Final details of the run down of Lowestoft, which will occur over two years, are expected towards the end of the year.

Last Updated: 04 April 2003 12:53 PM
Source: Edinburgh Evening New

http://edinburghnews.scotsman.com/business/Shell-axes-400-more-Euro.2416376.jp

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