THE WALL STREET JOURNAL
OCTOBER 29, 2009
By Alex MacDonald
Of DOW JONES NEWSWIRES
LONDON (Dow Jones)–Anglo-Dutch oil major Royal Dutch Shell PLC’s (RDSB.LN) chief executive Thursday said 5,000 employees will leave due to a company-wide corporate restructuring program.
Peter Voser said: “The Transition 2009 program, which I announced earlier this year, is progressing well, and will be completed by the end of 2009.”
Some 5,000 employees are leaving Shell as a result of these changes. This represents around a 10% reduction in employees in the redesigned divisions and corporate functions.
Shell has cut its operating costs by some $1.0 billion in the first nine months of the year from a year earlier, Voser said. The reduction excludes the impact of exchange rate movements and non-cash pension costs.
Company Web Site: www.shell.com
-By Alex MacDonald, Dow Jones Newswires; +44 (0)20 7842 9328; [email protected]
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