Anglo-Dutch oil giant Shell is to shed a further 1,000 jobs in an effort to reduce costs, the company said at the presentation of its Q4 earnings on Thursday.

The new job losses come on top of the 5,000 being scrapped as part of an ongoing reorganisation.
The jobs will mainly go at Shell’s downstream operations – refining, chemicals and sales – the company said.
Shell booked net profit of $1.96bn in the final quarter of 2009, compared with $2.8bn in the year-earlier period. The downstream operations accounted for some $1.76bn, including a one-off write-off of €1.3bn.
‘Our fourth quarter 2009 results were impacted by the weak global economy,’ said CEO Peter Voser in a statement. ‘We are not assuming that there will be a quick recovery, and the outlook for 2010 is uncertain.’
Shell’s full year 2009 reported earnings were $12.5bn compared with $26.3bn in 2008.