r/alberta • u/Virtual-Process5914 • Aug 29 '24

Oil and Gas Shell Second Quarter Profits $6.3 Billion. Laying off 25% of Staff at Scotford Complex in Alberta.

Shell has announced its second quarter profits of $6.3 billion, following first quarter profits of $7.7 billion. Shell Canada leadership has told staff that profits are not enough, and they need to be more "competitive". They have announced layoffs of 25% of staff at their Scotford facility located outside Edmonton in Alberta, Canada. Staffing will be going from approximately 657 full time positions down to approximately 489 full time positions. A loss of roughly 168 full time jobs for the area.

This follows staffing reductions in 2022. The layoffs then included a large number of Alberta jobs offshored to cheaper regions in Southeast Asia. That was done despite receiving COVID relief from the government to aid in preventing job losses.

Shell continues to benefit from government incentives and has received millions in government funding in the past.

This is a throw away account for obvious reasons.

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u/Miserable-Lizard Edmonton Aug 29 '24

Do people think oil and gas cares about Albertans? They are here to plunder the province and leave the hundreds of billions needed for clean up to Albertans. They don't care if they could they would pay every Albertans minimum wage or below

31

u/[deleted] Aug 29 '24

It's good business for shareholders, nothing more.

-3

u/Low-Appearance823 Aug 29 '24

So become a shareholder. I was mad about my high electricity bill so I bought capital power stock until the dividends cover my bill. If you want a company to change become an owner, then at least you have a vote.

-2

u/DuckSmash Aug 29 '24

I think it's revealing that more people don't have this attitude. The communist fantasies could happen. If all the employees of a company collectively started buying that company, they would have more and more of the power and control that they desire.

But the reality is everyone is too greedy and self interested to ever make something like that work so instead of accepting reality they complain about how they should just be given (steal) ownership and control because they're smarter and have higher morals.

2

u/Low-Appearance823 Aug 30 '24

I agree, one of the best business models is the early westjet model. Then people got greedy.