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workingpoor

Shell To Cut 475 North Sea Jobs - Mainly In Aberdeen

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Aberdeen again:

http://www.bbc.co.uk/news/uk-scotland-scotland-business-36380069

Shell is to cut 475 jobs in the North Sea, with most of the losses at its headquarters in Aberdeen.

Some posts offshore and at its plants at Mossmorran in Fife and St Fergus in Aberdeenshire will also be affected.

The job cuts follow Shell's takeover of oil and gas exploration firm BG Group, and what was described as a "lower for longer" oil price environment.

The cuts come on top of more than 10,000 job losses Shell announced over the past two years.

In February, falling oil prices prompted Shell to post its steepest fall in full-year earnings for 13 years.

'Reduce cost base'

"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.

"We need to reduce our cost base, improve production efficiency and have an organisation that best fits our combined portfolio and business plans."

The latest lay-offs will be implemented by the end of this year. That will take the total number of staff and contractor roles lost from Shell from the start of 2015 to the end of 2016 to at least 12,500.

Shell announced 7,500 job losses last year, and a further 2,800 job cuts at the beginning of this year.

Edited by workingpoor

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