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Shell Oil to lay off 9,000 employees in next two years

Shell Oil to lay off 9,000 employees in next two years

Oil giant Royal Dutch Shell said it plans to cut up to 9,000 jobs by the end of 2022 under a restructuring as the company deals with a drop in demand for oil. Shell expects the layoffs, which could affect more than 10 percent of its workforce, and other cuts to save $2.5 billion annually. The cuts include about 1,500 workers who have agreed to take ’voluntary redundancy’ this year, the CEO said.

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