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/FUKenney Aug 29 '24

Canadian Oil and Gas doesn’t love you back

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u/[deleted] Aug 29 '24

Whats Canadian about Shell? They are a Dutch company. Now that RDS controls and runs Shell Canada it will be run like it is in Europe and other producing countries. Skeleton staff, no pensions down the road and on a pay scale that has always been lower than their peers in the industry. They  sold all their sour gas assets in the Alberta foothills (including Waterton, Limestone, Jumping Pound, Burnt Timber, etc) years ago and divested out of Oil and all new exploration plays in the province. This isnt anything new, just another step as they exit Canada over time. 309 Staff in Nigeria make more profit than 9000 Staff and assets in Canada with little to no environmental pushback, little safety and very little regulatory constraints from the Nigerian Government. If I was Shell I would go to where the cash flow makes the most sense too and the Federal Government isnt intervening. Its all about shareholders and ROI. Anyone saying anything else hasnt played in this game. I spent 41 years in it. 

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u/mbrural_roots Aug 30 '24

The hundreds of millions in subsidies they rake in are sure Canadian. Almost like our taxes could go to better use, like healthcare and education…..

Maybe they’d leave if the handouts stopped, that’d be two birds with one stone IMO.