Shell to eliminate 20% of jobs in deals team, Bloomberg reports

Shell plans to cut at least 20% of jobs in its deals team as the company continues to restructure its business units in a move to lower costs, Bloomberg’s Laura Hurst and Will Mathis report. According to people with knowledge of the matter, staff in the division, which has several hundred employees handling mergers and acquisitions for Shell, have been told that there will be a significant reduction in headcount, with further details to be communicated in April. “Shell aims to create more value with less emissions by focusing on performance, discipline and simplification across the business,” a spokesperson said. “Achieving those reductions will require portfolio high grading, new efficiencies and a leaner overall organization.”