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Shell increases job cuts target by 20 percent

Reuters - UK Focus

LONDON, May 25 (Reuters) - Royal Dutch Shell (Xetra: A0ET6Q - news) will increase the number of job cuts in 2015 and 2016 by around 20 percent to at least 12,500 as a result of low oil prices and the integration of BG Group (EUREX: 1007667.EX - news) , it said on Wednesday.

The Anglo-Dutch company will reduce the size of its UK and Ireland (Other OTC: IRLD - news) oil and gas production, or upstream unit, by 475 throughout 2016, it said in a statement.

Shell (LSE: RDSB.L - news) started offering employees in Britain and the Netherlands voluntary redundancy last month. (Reporting by Ron Bousso and Karolin Schaps, editing by Louise Heavens)