Shell's cost cutting continues with North Sea layoffs

|By:, SA News Editor

Royal Dutch Shell (RDS.A, RDS.B) says it will cut ~250 jobs at its onshore North Sea oil operations by the end of this year as part of a business restructuring.

The cut is part of Shell's cost-cutting drive to boost revenue that will include the sale of $15B in assets around the world, including North Sea operations.

Shell's announcement follows a similar move in June by Chevron, which said it would cut ~225 jobs in its North Sea operations.