Shell Malaysia will axe around 1,300 positions from its upstream division over the next two years, as part of a program that is designed to make the company "more agile and competitive".
Shell Malaysia announced Tuesday that it will axe around 1,300 positions from its upstream division over the next two years, as part of a program that is designed to make the company “more agile and competitive”.
A leading explorer in Malaysia, the company has invested an average of $100 million per year in the country over the last 6 years and has made 11 discoveries in the past 24 months. Shell Malaysia’s total workforce is approximately 6,500 staff. The company will mark its 125 year anniversary in the country next year.
Iain Lo, chairman of Shell Malaysia, commented in a company statement:
“We are strengthening our organization by prioritizing productivity and efficiency, without compromising on safety and reliability. We will emerge from this process as a more nimble, resilient and competitive player in the Malaysian oil and gas industry.
“This is certainly a very difficult decision to make. We have made adjustments in our upstream portfolio and we will drive greater efficiency in our operations. Regretfully, these have resulted in an unavoidable impact on staff. I wish to reiterate our commitment to treat our people with respect and care in line with the Shell Global People Principles, and help them transition from their current positions.”
The latest development follows Royal Dutch Shell plc’s July 30 announcement that it will cut its workforce by 6,500 people this year, in order to remain “resilient in today’s oil price environment”, according to a company statement.
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