Shell lowers investments and cuts 6500 jobs

Shell projects cost reductions for a total USD 4 billion a 6,500 jobs axed.

Oil major Royal Dutch Shell is working hard to secure cost reductions in 2015, as the company projects savings of around USD 4 billion and the removal of some 6,500 jobs. Projected investments for 2015 have also been reduced further in comparison to the most recent forecast in April.

The massive slide in the oil prices have created significant challenges for the company, whose plans are now based on the fact that the oil price could hover at low levels for a long time going forward.

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