Oil giant Shell has become the latest to slash jobs in the wake of lower oil prices and a reduction in activity. The Dutch company announced Thursday that 120 positions will be eliminated in Norway.
They include 100 jobs at Shell’s Norwegian headquarters in Stavanger and 20 in its operating division in Kristiansund on Norway’s northwest coast. Shell also plans to reduce its number of consultants hired on a temporary basis by 140 in Stavanger, Kristiansund and at Nyhamna.
Shell’s oil and gas production operations currently have 900 employees and 350 consultants. The cuts reportedly have nothing to do with Shell’s recent decision to acquire BG Group in the UK, in one of the oil industry’s biggest mergers ever.