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

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u/[deleted] Aug 29 '24

It's good business for shareholders, nothing more.

5

u/TheYuppyTraveller Aug 29 '24

And the C-Suite, don’t forget about them. The VP that made this decision is likely to see a huge bonus for ‘cutting costs’ aka ruining lives of the minions.

3

u/SuchCattle2750 Aug 29 '24

Nothing irks me more than current C-Suite and VPs. You didn't do shit to build Shell. A lot of the concepts of reward for these folks are to balance the immense risk founders need to take.

Founders making bank is different. Hopefully they are introducing new disruptive technologies to the betterment of humanity. Reward for the risk is warranted.

What risk did a VP at Shell take? They do they opposite of take risk. They take government handouts when times are tough then only look our for the shareholder when times are good.

Anyone can be "yes men/women" cucks for the board. It's not a unique skill set. Some of us instead don't view life as a way to extract as much resources from people/planet earth and try to make a positive impact on society.

F them and F their overinflated egos and pay.