The global energy giant Royal Dutch Shell's Malaysian unit announced Tuesday that it will reduce around 1,300 jobs from its upstream division over the next two years.
"We are strengthening our organization by prioritizing productivity and efficiency," Iain Lo, chairman of Shell Malaysia, said in a statement.
"We will emerge from this process as a more nimble, resilient and competitive player in the Malaysian oil and gas industry. We have made adjustments in our upstream portfolio and we will drive greater efficiency in our operations," he added.
Shell Malaysia’s total workforce comprises around 6,500 staff members.
The Anglo-Dutch company announced earlier this year that it will buy the gas company BG group for $70 billion, in one of the largest acquisitions in the oil industry ever and the biggest in 2015.
Despite increased earnings in 2014, the company announced on Jan. 29 that it will cut back capital spending of over $15 billion dollars for the period between 2015 and 2017.
By Ovunc Kutlu
Anadolu Agency
ovunc.kutlu@aa.com.tr