Shell to cut 330 UK jobs over next two years as Covid hits profits

Shell will cut 330 jobs over the next two years as Covid continues to make profits.

The oil giant plans to cut a quarter of its workforce in Aberdeen by December 2022. the mirror online reports.

The oil sector has struggled since the economic slowdown pandemic as demand for oil declined.

The plan envisages that 330 jobs from a total of 1,330 will be cut over the next two years.

The oil company cited the switch to low-carbon electricity and the coronavirus pandemic as reasons for the cuts.

The company, which employs 83,000 people worldwide, has experienced a significant decline in demand and profits since February last year.

The move is part of broader plans to cut 9,000 jobs worldwide.

Royal Dutch Shell said the cuts would be implemented by 2022.

The bosses expect a voluntary layoff of around 1,500 employees.

Shell has given no indication of where the job losses will occur.

The move comes five months after Shell cut its dividend – a regular payout to shareholders – for the first time since World War II.

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