Thread regarding Shell Oil layoffs

Subsurface Job Cuts and Long Term Meaning

USA 30%
Netherlands 24%
UK 2/3% (not as bad due operating UK and Brazil assets)

You cannot keep pulling the job cut lever for short term financial results when the fundamental long term issue is nothing in the funnel. The last 5 reorgs haven't changed long term business outcomes (except EC bonus for short term opex cuts)

How do we keep liquids flat and increase production to 2030 if we are cutting staff, developments take years (and we have none) and presumably all the low hanging fruit WRFM/NFE has been produced/drilled.

All of this is very counterintuitive (unless something inorganic coming - all speculation)

(Let alone talking about planning for past 2030 and Waels tenure as CEO, one would imagine we'd need organic growth to keep Shell competitive with the American IOCs which requires staff to make organic growth happen)

by Anonymous
| 1571 views | | 7 replies (last September 1, 2024) | Reply
Post ID: @OP+1uf0wIUE
Comment! It's anonymous!

7 replies (most recent on top)

You need to add staff in the right places. Not India, Not Business service centers.

by Pi---d
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Post ID: @3oqh+1uf0wIUE

We keep reorganizing and we keep losing the professionals who have the knowledge while we keep the future CEO's in management positions making beautiful view graphs and introducing new processes dragging us down and leading us further and further into a hole. Sad...

by Anonymous
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Post ID: @1vyh+1uf0wIUE

Planning to list in NYSE

by Anonymous
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Post ID: @1taj+1uf0wIUE

Those are deep cuts. Sorry everyone.

Mckinsey strikes again.

by Anonymous
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Post ID: @tqd+1uf0wIUE

yeah it makes no sense

wael also constantly says we should be like exxon and we should have the coital efficiency of exxon

but we have tens of thousands of dead weight do nothing in the UK and india and we are awful at assets

we literally bought the permian at the peak. and sold it at a low. we ruined our acreage trying to save money (200k/well) in fluids on 25MM$ lifetime wells.

we literally pulled out of a guyana claim days before exxon moved in. our leadership is totally incompetent.

by wael su-ks
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Post ID: @rzk+1uf0wIUE

Yep they are getting ready to merge with somebody .....

by Anonymous
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Post ID: @awv+1uf0wIUE

The writing is on the wall - any material reserve additions will be inorganic.

If this company was serious about increasing production by 2030, they would be adding not cutting staff. Keeping liquids flat at our decline rate requires massive amounts of drilling + rapid tie-in to infrastructure that is unrealistic at our current activity level (and success rate). Increasing “availability” from 96 to 98% isn’t going to make a dent in our goal.

by Learner mindset
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Post ID: @quj+1uf0wIUE

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