Oil companies announce major layoffs

Friday, October 2, 2020 - 4:42pm

https://www.podtrac.com/pts/redirect.mp3/dovetail.prxu.org/300/fcadc136-7893-4ef3-b76d-e24241cda4c7/2020_1002_07.mp3

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.