Shell is starting one of the biggest reorganizations in its history as it pivots from a century-long structure that prioritized oil and gas production to a greener future. There will be as many as 9,000 job losses over the next two years, with cuts already announced in the Netherlands, the U.K. and Malaysia.
Shell’s traders, however, will receive bonuses as it’s not tied to payout budgets associated with the company’s performance, people with knowledge of the matter said, asking not to be identified because the information is not public.