07:30 AM EDT, 03/13/2024 (MT Newswires) -- Shell (SHEL) is planning to cut at least 20% of jobs in its deals team as part of cost-cutting measures, Bloomberg reported Wednesday, citing unnamed people familiar with the situation.

The company informed staff in the division that there would be job eliminations and more details would be communicated next month, the report added, citing the sources.

"Shell aims to create more value with less emissions by focusing on performance, discipline and simplification across the business," Bloomberg quoted a Shell spokesperson as saying.

Shell did not immediately respond 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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