Shell to shut Glasgow finance office and cut 380 jobs
Global oil and gas giant Shell has informed its employees in the finance operations office in Glasgow that it would lay them off and shut the office there. The decision follows a review of Shell’s global finance operations network, the company said.
Shell said that on Wednesday morning, senior managers addressed employees at the Bothwell street office.
Speaking after that address a Shell spokesperson said: “For Shell to remain competitive, difficult choices continue to have to be made to improve efficiency and value for money across all of our businesses and functions.”
“Subject to employee consultation, we are proposing to close the Shell finance operations office in Glasgow and over the next 15 months, move its activities to our other locations in our global Shell Business Operations network.
Following a previously announced UK voluntary redundancy program, around 380 people are expected to be employed in the Glasgow office at the end of 2016.
While the spokesperson said the move would result in “a small overall reduction” in the number of jobs in Shell’s global finance operations, he also added that employees currently based in the Glasgow office “will likely face involuntary severance.”
“We are making this announcement following a review of Shell’s global finance operations global network which concluded that we have an opportunity to further consolidate that network into fewer locations. This decision is driven by increasing pressures on our business to reduce cost and generate cash, and reflects the fact that the capability of our other centers has evolved to be able to handle the activities that are currently performed in Glasgow, but at a significantly lower cost.
“We understand that this is very difficult news for employees. During the transition period, we are committed to ensuring ongoing regular employee engagement and support.”
Offshore Energy Today Staff