Royal Dutch Shell has announced that it will cut another 1,000 jobs by the end of next year. The company has already announced 1,000 jobs that will be cut this year. The company has faced lower profits from a decreased demand for oil across the world. A spokesman said that the company would increase their oil production to increase profit margins, and would also make big investments in new projects. This all comes as the company says it needs to cut costs by 1 billion euros this year.
See "Shell planning to cut a further 1,000 jobs", BBC News Online, March 15, 2010