The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Mining / Quarrying Mining And Quarrying Extraction Of Crude Petroleum And Natural Gas 06 - Extraction of crude petroleum and natural gas
2,800 jobs Number of planned job losses
Announcement Date
14 December 2015
Employment effect (start)
1 February 2016
Foreseen end date
31 December 2016
Description
The oil company Shell has announced, on 14 December 2015, further details of the proposed operational and administrative restructuring related to the merger process with BG group. Shell expects an overall potential reduction of approximately 2,800 positions globally across the combined group, or approximately 3% of the total combined group workforce. These reductions are in addition to the announcement, last July, of a plans to reduce Shell’s headcount and contractor positions by 7,500 globally. With these measures and forecasted synergies, Shell expects to save about 3.5 billion dollars per year. As explained by Shell, "the proposed changes are subject to deal completion, engagement with affected employees and relevant employee representatives". "Further detailed work will be undertaken on the details of the proposed operational and administrative restructuring as part of ongoing integration planning", added the company. The acquisition of BG remains on track for completion in early 2016. Then the job cuts will begin. Job cuts were already announced in 2015 in the United Kingdom and in Norway. About the last worldwide level restructuring (7500 positions), there are no details about the share between job cuts by Shell only and job cuts affecting contractors has the company has informed markets with a global number of job cuts. Worldwide restructuring were already recorded : 2,000 and 1,000 job cuts in 2010 ; 5,000 in 2009.
Sources
19 December 2015: La Voix du Nord
14 December 2015: BBC
Citation
Eurofound (2015), Shell, Merger/Acquisition in World, factsheet number 86018, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/86018.
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