Market Chatter: Shell Employees Show Dissatisfaction Over Profitability Drive, Layoffs-March 2024-www.financetom.com

Market Chatter: Shell Employees Show Dissatisfaction Over Profitability Drive, Layoffs

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Market Chatter: Shell Employees Show Dissatisfaction Over Profitability Drive, Layoffs

Oct 11, 2024 5:38 AM

08:27 AM EDT, 10/11/2024 (MT Newswires) -- Shell (SHEL) employees have criticized the company's leadership over proposed job cuts, Bloomberg reported Friday, citing internal company communications.

Chief Executive Wael Sawan has announced layoffs to increase profits and increase the company's valuation in comparison with US rivals. The moves have marred employees' view of the company, according to a company survey cited by Bloomberg.

The survey showed declines in nearly every key measure, including employee engagement and organizational leadership, according to the report.

Shell did not immediately reply to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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