Restructuring will involve job cuts as part of broad cost reductions
This translation has been automatically generated and has not been verified for accuracy.Royal Dutch Shell will announce a major restructuring by the end of the year as the energy company prepares to accelerate its shift toward low-carbon, CEO Ben van Beurden told employees according to a company source.
“Ben spoke about positioning the company in the energy transition,” one of the sources said. “The company will announce the new shape of the organization by the end of the year.”“Over the coming months we will go through a comprehensive review of the company. Where appropriate we will redesign our organization to adapt to a different future and emerge stronger,” Shell said in a statement.
The company is not alone, with BP also planning a historic restructuring as new CEO Bernard Looney sets out to “reinvent” the British company with renewables and low-carbon energy. Italy’s Eni also plans a major overhaul.
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