Big report announced today by Emma Lewis for the Commercial team. Looks like a 46% headcount reduction. This is the first of a long and painful journey—to what? No one knows as they are not part of the natural family. Tired of this!!
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2 years ago is a long time when it comes to Shell staff reductions. My group is going through it again. 3rd time in 2 years.
Just hang in there. It’s gets worse.
The explanation is simple. Waels bonus depends on earnings per share. Chemical produces costs instead of earnings.
The long term health of the company is irrelevant.
Didn’t chemicals commercial go through a round of layoffs not even 2 years ago? This is nuts…wishing the group well. Truly sad times.