Sign up for our daily briefing
Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.
Catch up on the day's biggest business stories
Subscribe to Axios Closer for insights into the day’s business news and trends and why they matter
Stay on top of the latest market trends
Subscribe to Axios Markets for the latest market trends and economic insights. Sign up for free.
Sports news worthy of your time
Binge on the stats and stories that drive the sports world with Axios Sports. Sign up for free.
Tech news worthy of your time
Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.
Get the inside stories
Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Want a daily digest of the top Denver news?
Get a daily digest of the most important stories affecting your hometown with Axios Denver
Want a daily digest of the top Des Moines news?
Get a daily digest of the most important stories affecting your hometown with Axios Des Moines
Want a daily digest of the top Twin Cities news?
Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities
Want a daily digest of the top Tampa Bay news?
Get a daily digest of the most important stories affecting your hometown with Axios Tampa Bay
Want a daily digest of the top Charlotte news?
Get a daily digest of the most important stories affecting your hometown with Axios Charlotte
Sign up for Axios NW Arkansas
Stay up-to-date on the most important and interesting stories affecting NW Arkansas, authored by local reporters
A Shell station in Brazil. Photo: Rafael Henrique/SOPA Images/LightRocket via Getty Images
Royal Dutch Shell will shed up to 9,000 jobs as it undergoes a long-term restructuring around climate-friendly energy sources and continues to grapple with the coronavirus pandemic that has battered the oil industry.
Why it matters: The cuts could amount to over 10% of the company's global workforce, which was 83,000 at the end of 2019.
- Oil giants are shaking up their plans as they cut costs. For European-based majors, that means diversifying over time away from fossil fuels.
- It follows BP's June announcement that it would cut its global workforce by 10,000 jobs, or 14%.
The state of play: Shell expects to reduce its workforce by somewhere between 7,000 and 9,000 jobs by the end of 2022, which it said will help achieve as much as $2.5 billion in annual savings.
- "We have to be a simpler, more streamlined, more competitive organization that is more nimble and able to respond to customers," CEO Ben van Beurden said in a statement on Wednesday.
- He added that the figure includes around 1,500 people who have "already agreed to take voluntary redundancy this year."