The management of Royal Dutch Shell announced a cut of 6.5 thousand jobs amid an ongoing fall in crude prices on the global market. The news on dismissals followed the release of the report on the company’s income in the second quarter. The data turned out to be discouraging as the net income dropped by 33% to $3.4 billion compared with the same period last year when the net income totaled $5.1 billion. Besides, oil production fell by 11% to 2.7 million barrels of oil equivalent a day. About 7% of the total company’s staff, workers at the units in the North Sea and Canada in the first place, will face the planned redundancy this year. It was also decided to cut capital investment and operating costs, leaving only two projects running this year. Investors positively reacted to plans to reduce spending. Shell stocks grew by more than 4% in London after the report publication. There is also good news for shareholders. Shell management promised to keep the volume of dividend payments at the same level. According to the results of 2015, Shell planned to pay $1.88 a share, the same as in 2016.
