SHELL TO SLASH COSTS WITH GIANT JOBS CULL
RESTRUCTURE: Peter Voser is going to restructure the company
Thursday May 28,2009
By Andrew Johnson
Royal Dutch Shell unveiled one of the most radical restructurings in its 119-year history yesterday in a move placing thousands of jobs at risk.
Incoming chief executive Peter Voser is aiming to slash costs, cut project overruns and speed up decision making through the overhaul announced yesterday following the departure of gas and power chief Linda Cook.
While the company disappointed the City by setting no targets for how much money will be saved, analysts said the annual figure would be in the high £100millions, if not low £1billions in the next two years or so.
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