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5,000 jobs to go at Shell as profits plunge 73 per cent


The Independent
Last updated:
Fri, 30 Oct 2009 19:19:00 +0000

Royal Dutch Shell plans to cut 5,000 jobs as part of cost-cutting to mitigate the impact of the falling oil price.

Shell announced the proposal yesterday alongside third-quarter results showing that profits are down 73 per cent. While they came in far below last year's $10.9bn (£6.6bn), profits for this year's third quarter, at $2.99bn, nonetheless beat analysts' predictions.


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