Oil Giant Shell has announced that it will cut a further 2,200 taking its target for layoffs to 12,500 by the end of the year due to weak oil prices.
The company said that 475 of the layoffs will come from its upstream UK and Ireland business. Most of the 475 UK job losses will be from Shell’s headquarters in Aberdeen. Some posts offshore and at the energy company’s plant at Mossmorran in Fife will also be affected, BBC reports
Whilst the cuts are small in comparison to the overall amount of people employed in the oil and gas industry, Shell’s 12,500 job reductions are equal to the entire workforce of social media company Facebook, the Fortune notes
“Despite the improvements that we have made to our business, current market conditions remain challenging,” said Paul Goodfellow, Shell’s vice president for UK & Ireland