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Shell Plans Further Job Cuts Ahead of BG Acquisition
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In advance of completion of its recommended combination with BG Group, Shell has announced further details of the proposed operational and administrative restructuring under consideration. Shell expects the restructuring will be required to achieve the expected benefits of the recommended combination, including previously disclosed and reported-on pre-tax synergies of $3.5 billion (subject to the bases of belief, principal assumptions and sources of information set out in the Appendix to the announcement made by Shell on 3 November 2015 providing investors with a strategic update).
Shell’s expectation is that BG’s business would be integrated into Shell's businesses. As part of that, Shell proposes that office consolidation will be undertaken where practical in certain locations around…
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