Shell to Cut Up to 9,000 Jobs as Virus Accelerates Overhaul

Shell is undergoing a restructuring to become more streamlined and competitive, aiming to save $2.5 billion by 2023. The changes are driven by a mix of COVID-19 impacts and a long-term energy transition towards greener operations. Shell's plans are part of a broader industry trend, with major companies like BP, Chevron, and Exxon also cutting costs and headcount. The outlook for Shell remains challenging, with oil demand still recovering from the pandemic's effects, potentially taking 18 months to return to pre-pandemic levels.

What is the primary goal of Shell's restructuring as announced by CEO Ben van Beurden?

• To merge with another energy company

• To expand into new markets

• To increase oil production

• To become a more streamlined and competitive organization

What is one of the main reasons Shell is undergoing restructuring?

• To acquire smaller companies

• To focus solely on oil production

• To accelerate its transition to a greener company

• To increase its workforce

How does Shell's plan compare to BP's restructuring efforts?

• Neither company is making any changes

• Both companies are increasing their workforce

• BP is cutting more jobs than Shell

• Shell is cutting more jobs than BP

What is the expected impact of the pandemic on Shell's oil product sales?

• Sales are expected to increase significantly

• Sales are expected to double

• Sales are expected to remain stable

• Sales are expected to decline significantly

How long might it take for oil demand to return to pre-pandemic levels according to top oil traders?

• 12 months

• 24 months

• 6 months

• 18 months