Shell wants to cut costs. Sources reported to Reuters news agency that the group aims at a 40 percent structural saving in the company’s oil and gas production. The company itself refers to a strategic revision that is currently being carried out with a view to the energy transition and simplifying the structure. Cost savings are part of the plan.

The plan is reportedly to be finalized this year. It is not only about changing the structure of the company, but also about the culture of the company as a whole. The question that would be on the table is what kind of company Shell wants to be in the future, according to the sources.

In Shell’s retail branch, which accounts for 45,000 tank and service stations, the costs have to be reduced anyway. In addition, other interventions, including cutting into management layers, are considered.

Load More Related Articles
Load More In Business

Leave a Reply

Your email address will not be published. Required fields are marked *

Check Also

Switzerland and the Netherlands reached tax arbitration agreement

Switzerland and the Netherlands have reached an agreement on an arbitration procedure in a…