Oil companies announce major layoffs

The World

Oil giant Royal Dutch Shell is announcing up to 9,000 job cuts in the next few years. The cuts are partly due to a restructuring process due to a crash in oil prices and trend towards renewable energy spurred by global coronavirus shutdowns. The World’s host Marco Werman speaks with Kathy Hipple, a financial analyst with the Institute for Energy Economics and Financial Analysis, about what the cuts mean for the future of Big Oil.

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