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Shell Plans Job Cuts, Upstream 'Reorganization'; Updates Ops
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Royal Dutch Shell reported its fourth quarter and full year 2015 results.
Key Points: We are making substantial changes in the company, reorganising our Upstream, and reducing costs and capital investment, as we refocus Shell, and respond to lower oil prices. As we have previously indicated, this will include a reduction of some 10,000 staff and direct contractor positions in 2015-16 across both companies.Royal Dutch Shell Chief Executive Officer Ben van Beurden commented: "The completion of the BG transaction, which we are expecting in a matter of weeks, marks the start of a new chapter in Shell, rejuvenating the company, and improving shareholder returns.
We are making substantial changes in the company, reorganising our Upstream, and reducing costs and capital investment, as we…
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