Shell to Cut 20% of Workforce in Key Oil and Gas Divisions

CEO Wael Sawan's cost-cutting strategy targets exploration and development units to enhance profitability.

Job cuts will impact Shell's offices in the U.S., the Netherlands, and Britain.
The restructuring aims to save $2-3 billion by the end of 2025.
Shell has already scaled back operations in renewables and low-carbon sectors.
The company's upstream division accounted for over a third of its 2023 earnings.
Shell's shares have risen over 8% this year, reflecting investor confidence.