Shell on track with plan to cut 5,000 jobs by end of 2009

Shell is on track to axe 5,000 jobs by the end of the year as part of a major cost-cutting programme.

The Anglo-Dutch oil giant’s chief executive Peter Voser confirmed that its Transition 2009 programme – announced earlier this year – was progressing well and would be completed in the next two months.

“Some 5,000 employees are leaving Shell as a result of these changes. This represents around a 10% reduction in employees in the redesigned divisions and corporate functions,” he confirmed.

Voser provided the update as the firm reported a 72% slide in third-quarter profits.

A significant chunk of the cuts have been at senior management level. More than half the job losses will take place in corporate offices in the UK, US and The Netherlands, but the company did not give a breakdown.

The company employs about 8,500 workers in the UK.

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