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Shell Eyes 6,500 Job Cuts in 2015; Talks BG Merger Deal
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Royal Dutch Shell has reported an update on company development and the recommended combination with BG Group plc.
Highlights: Competitive performance in low oil prices; planning for prolonged downturn Dividend commitment unchanged: 2015 $1.88/share, 2016 at least $1.88/share Share buy-back commitment unchanged: $25 billion 2017-2020 Operating cost reduction in 2015 totalling $4 billion (-10%); 6,500 job reductions in 2015 Capital investment reduction in 2015 totalling $7 billion (-20%) Pro-forma capital investment 2016 for Shell + BG expected to be around $35 billion Further reductions in operating costs expected in 2016 BG transaction on track - 'grow to simplify' leads to a more resilient and competitive ShellUpdating shareholders and investors at a presentation in…
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