Amid a slump in oil demand, Royal Dutch Shell said it plans to cut 7,000 to 9,000 jobs. The cuts would be implemented by 2022 and included 1,500 people who were taking voluntary redundancy. Earlier this year, Shell cut its dividend for the first time since WWII. Shell currently employs 83,000 people worldwide. An ongoing cost-cutting drive is expected to deliver annual savings of $2-2.5B by 2022.