Shell has let go hundreds of contractors in a bid to streamline its operations and save costs, according to a report today.
Scores of contracts, mainly in IT, are being cancelled or not renewed, the Standard reported, with the cull extending to only permanent staff now being allowed to attend work social events.
In a statement reported by the paper, Shell said: “Contractors continue to provide important IT skills to Shell as valued people in our teams.
“It is usual for the numbers of contractors to go up and down in line with business need.
“In 2023, we have needed fewer contractors overall to support IT functions at Shell. A small proportion of these reductions have been in the UK.”
Shell has been riding high with investors recently, with its shares hitting an all-time record as new chief executive Wael Sawan said the company was rowing back on some of his predecessor Ben Van Beurden’s green plans.
In June, Sawan said investment in new oil and gas production would rise to US$40 billion with costs to be cut by US$3bn as part of a “ruthless” efficiency drive.
“It is critical that the world avoids dismantling the current energy system faster than we are able to build the clean energy system of the future,” he said.
Shares were flat at 2,750p.