An international energy company, Shell intends to trim its Deals Team workforce by at least 20% as part of ongoing efforts to streamline its business operations and lower expenses through restructuring.
There are no official announcements regarding layoffs on the company’s end. However, according to Bloomberg, The spokesperson said, “Shell aims to create more value with less emissions by focusing on performance, discipline, and simplification across the business.”
“Achieving those reductions will require portfolio high grading, new efficiencies, and a leaner overall organisation”, a spokesperson added.
The reports also suggested that it is expected that the layoffs may affect business units such as low-carbon solutions, chemicals, and IT.
On the other hand, recently, IBM (International Business Machines Corp) initiated layoffs in its marketing and communications division without specifying the number of affected jobs.
Chief Communications Officer Jonathan Adashek allegedly disclosed the decision in a brief 7-minute meeting.
IBM’s CEO, Arvind Krishna, previously stated plans to pause hiring for roles susceptible to automation, citing AI advancements. He projected, “I could easily see 30% of that getting replaced by AI and automation over a five-year period.”
So far in 2024, there have been 382 layoffs at tech companies with 68,930 people impacted (931 people per day).
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