Western oil giants on job cutting spree

‘Royal Dutch Shell has joined a growing list of Western energy giants in announcing broad cuts to jobs and investments amid expectations of a “deep downturn”.

The Anglo-Dutch company said Thursday it will eliminate 6,500 staff and contractor positions this year and reduce investment by $7 billion or 20%.

Shell joins the ranks of the world’s biggest oil producers such as BP and ConocoPhillips in announcing layoffs. US energy giant Chevron said this week it was showing the door to 1,500 workers to save $1 billion like Conoco.’

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