01/10/2020 - 10:00

Shell flags job cuts

01/10/2020 - 10:00

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Shell could shed up to 9,000 jobs globally by 2022 in an effort to save the energy and petrochemical giant about $2 billion annually.

Stoppages at Shell's Prelude project could reduce WA's export revenue by about $2 billion this year.

Shell could shed up to 9,000 jobs globally by 2022 in an effort to save the energy and petrochemical giant about $2 billion annually.

That comes after Business News reported in August that stoppages at the company's Prelude project could reduce Western Australia's export revenue by about $2 billion this year.

Today's announcement, made as part of the company’s third quarter update, follows reports in mid-September that Chevron would cut more than 200 jobs locally amid broader uncertainty in the market.

Shell said the reduction in job numbers would contribute to an effort to cut underlying costs by between $3 billion and $4 billion in the next six months.

It is understood that 1,500 workers have already accepted voluntary redundancies as part of this process.

A representative for Shell declined to provide comment on how many workers in Australia would be affected by these cuts; however, the company is known to employ 800 people in WA, per Business News’ Data & Insights.

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