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Shell Set to Cut 20% of Jobs in Some Oil and Gas Divisions
Posted on 8/29/24 at 12:18 pm
Posted on 8/29/24 at 12:18 pm
quote:
Shell Plc is set to cut around 20% of its workforce in some oil and gas exploration and development divisions as CEO Wael Sawan works to boost efficiency and profitability.
It’s the latest round of cuts following similar moves in the company’s dealmaking team, as well as low-carbon solutions, chemicals and offshore wind. The staff reductions would affect the company’s exploration, strategy and portfolio segment as well as its development, subsurface and wells business, said a person familiar with the matter.
The proposed moves are pending engagement with groups that represent employees, the person said.
“Shell aims to create more value with less emissions by focusing on performance, discipline and simplification across the business,” a company spokesperson said by email.
The job cuts were first reported by Reuters.
LINK .
I really hope, and suspect based on experience, the cuts have already happened rather than employees seeing this for the first time and having to worry. Also hope it’s none of our baws here. If so, I hope y’all get on elsewhere quickly.
Does anyone know if this is maybe limited to O&G division folks in specific regions?
6
Posted on 8/29/24 at 12:20 pm to ragincajun03
Shell is an oil and gas company that seems to wish it wasn't an oil and gas company
Posted on 8/29/24 at 12:21 pm to Dire Wolf
quote:
Dire Wolf
Shell is an oil and gas company that seems to wish it wasn't an oil and gas company
They gutted all the non O&G divisions first.
Posted on 8/29/24 at 12:22 pm to Dire Wolf
Was listening to one of Mark Lacour’s recent podcasts on the OGGN network, and he was practically begging Shell to get their heads out of their asses.
Posted on 8/29/24 at 12:24 pm to ragincajun03
Can one of you O&G baws give us a rundown of why this is REALLY happening?
Posted on 8/29/24 at 12:26 pm to ragincajun03
TruckNutz, Inc (TNZ) stock is already down 350%.
Posted on 8/29/24 at 12:27 pm to Dire Wolf
They have rebranded themselves as an “Energy “ … company .. they did this a few years back.. it actually makes sense.. they have a large worldwide presence and European.. if you look at places they are in areas where there are lots of movement and infrastructure in electricity.. wind in the offshore.. etc.. and in Europe in some places gas stations have a bunch of recharge spots and 2-4 gas pumps..
With that all said … yay.. the every few year opportunity to retire or career change offer from the big oil:(
With that all said … yay.. the every few year opportunity to retire or career change offer from the big oil:(
Posted on 8/29/24 at 12:29 pm to Dire Wolf
quote:
Shell is an oil and gas company
They are an energy company. They don’t care what type of energy they are overcharging you.
Posted on 8/29/24 at 12:36 pm to YouKnowImRight
quote:
Can one of you O&G baws give us a rundown of why this is REALLY happening?
See Dire Wolf's comment above. Their former CEO wanted to turn Shell into anything except an O&G company. I think Shell has a lot of influential stock holders that believe in man made climate change and that O&G is the root of all evil in the world of climate change.
Posted on 8/29/24 at 12:41 pm to Dire Wolf
quote:
Shell is an oil and gas company that seems to wish it wasn't an oil and gas company
BP has entered the chat.
Posted on 8/29/24 at 12:52 pm to ragincajun03
It's happening as we speak. They are handing out retirement packages and are forcing some ppl out. If you don't take the package, then you have to post out for a new position. Not guaranteed a job if you post.
Some Culling of the heard needed to happen though. They got way too big and was doing More with more ppl than ended. Kind of going back to a do more with less attitude.
Some Culling of the heard needed to happen though. They got way too big and was doing More with more ppl than ended. Kind of going back to a do more with less attitude.
Posted on 8/29/24 at 1:17 pm to LSUDUCKMAN67
“Culling of the heard needed to happen though. They got way too big and was doing More with more ppl than “
Imo….. No you plan for this .. that is why you have hr and managers.
Big oil started “culling the heard”. Back in 1980s …..they do this every few years.. retired from the industry with over 35 years of watching them cull..
If anything like my past experience they will cull the STEM and leave HR and mgt cause hey someone has to manage the spreadsheets from working at home…
Fwiw you shell people that get culled… I have been there more than once and both times ended up with a nice severance and better new job that was higher pay and position.. take a breath.. plan and methodically go forward..
If possible get on with an independent.. they value and pay you for results not your position on the pie chart.
Imo….. No you plan for this .. that is why you have hr and managers.
Big oil started “culling the heard”. Back in 1980s …..they do this every few years.. retired from the industry with over 35 years of watching them cull..
If anything like my past experience they will cull the STEM and leave HR and mgt cause hey someone has to manage the spreadsheets from working at home…
Fwiw you shell people that get culled… I have been there more than once and both times ended up with a nice severance and better new job that was higher pay and position.. take a breath.. plan and methodically go forward..
If possible get on with an independent.. they value and pay you for results not your position on the pie chart.
Posted on 8/29/24 at 1:18 pm to ragincajun03
Hopefully it's all the DEI positions
Posted on 8/29/24 at 1:44 pm to ragincajun03
They're culling roughly 20% across the board. The unsaid part is stock price is stagnant, discoveries aren't happening, and there's more people now than ever before. They're at the point now where shitty process and roadblocks are created just to justify the existence of so many employees. The general makeup of the company isn't a pyramid, there's just as many "leaders" as workers. The bulk of the cuts are at team lead and middle management levels.
Some new energy type stuff was offloaded, the rest of the cuts are occurring now through Q1 2025.
Some new energy type stuff was offloaded, the rest of the cuts are occurring now through Q1 2025.
Posted on 8/29/24 at 1:49 pm to GoldenD
And ExxonMobil is doubling down on O&G as primary global energy source through 2050, with actual increases in global demand.
We will see but I think XOM, although beat up a bit by MSM, will be proven correct.
We will see but I think XOM, although beat up a bit by MSM, will be proven correct.
Posted on 8/29/24 at 1:57 pm to YouKnowImRight
Offshoring probably. Same thing as Chevron with their new “center of excellence” in India
This post was edited on 8/29/24 at 2:00 pm
Posted on 8/29/24 at 2:49 pm to Mr Breeze
quote:
Shell is an oil and gas company that seems to wish it wasn't an oil and gas company BP has entered the chat
BP about to start slashing as well. There’s an internal hiring freeze of non-front line hires right now. Shell told the greenies to kick rocks. Lots of guys getting retirement packages. For BP, it’s coming.
Posted on 8/29/24 at 6:49 pm to Gee Grenouille
It sucks. I hope it’s only dead weight that gets dropped.
Posted on 8/29/24 at 8:17 pm to GoldenD
quote:
The unsaid part is stock price is stagnant,
Look at the four year chart and get back to us on that comment.
CEO promised investors certain things last year and he’s somewhat done the right thing to get away from some of the unprofitable green energy initiatives. It was a big shift from what Ben was doing.
In regards to the regional stuff, the gulf deepwater division is very profitable and they are claiming this carbon extraction is pretty clean.
Leadership is gutting this group and many others without regard to what they contribute to the bottom line and with no cares about morale. It’s all about what the consultants say.
And of course many jobs now done in the Philippines, Poland, and India.
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