Exclusive: Shell plans major restructuring around climate drive, CEO tells employees
By Ron Bousso and Shariq Khan
LONDON (Reuters) - Royal Dutch Shell will announce a major restructuring by the end of the year as the energy company prepares to accelerate its shift to low-carbon products, CEO Ben van Beurden told employees, a company source said.
In a video interview posted on Shell's internal website, Van Beurden said that the restructuring would result in job cuts as part of a comprehensive cost reduction, although according to sources who saw the interview, no numbers have yet been set.
"Ben spoke about the company's positioning in the energy transition," said one of the sources. "The company will announce the new form of organization by the end of the year."
The new structure will not take effect until 2021.
"We will conduct a comprehensive review of the company in the coming months. If necessary, we will restructure our organization to adapt it to a different future and emerge stronger," Shell said in a statement.
GRAPHICS: Shell's climate endeavors - https://fingfx.thomsonreuters.com/gfx/ce/ygdpzeekvwa/Shell%20climate.png
(Reporting by Ron Bousso; editing by Kirsten Donovan)
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