On February 1st, Shell CEO Wael Sawan stated in a fourth quarter earnings conference call that the company has cut some business unit positions with the aim of further reducing costs.
Since the middle of last year, Shell's IT contractors have decreased by 35%, equivalent to 3000 people. Shell also announced a significant reduction in its chemical business team, resulting in a reduction of approximately 25% in the number of employees in the department.
Shawang stated that the profit margin of the chemical business is "not high" and it is unclear how long this situation will continue.