Shell confirms job cuts and a steep fall in profits
Royal Dutch Shell has confirmed it is cutting 10,000 jobs amid its steepest fall in annual profits for 13 years. It made $1.8bn (£1.23bn) for the fourth quarter of the year, compared with a $4.2bn profit for the same period the year before. Full-year 2015 earnings, excluding identified items, were $10.7bn, compared with $22.6 billion in 2014.
Shell reportedly indicated it would report a massive drop in profits two weeks ago. It stated it had cut operating costs by $4bn, or around 10%, in 2015, and expected to cut costs by a further $3bn this year.
Royal Dutch Shell plc fourth quarter and full year 2015 results announcement and interim dividend announcement On Thursday, February 4, 2016 at 07.00 GMT (08.00 CET and 02.00 EST)
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