Shell to cut 10,000 jobs as profits hit 13-year low

Royal Dutch Shell will fire 10,000 workers as profits fell to their lowest in 13 years. The firm made $1.8 billion in profit in Q4 of 2015, compared to $4.2 billion from the same period in 2014. Income for the year fell 87% to $1.94 billion. "Shell will take further impactful decisions to manage through the oil price downturn, should conditions warrant that," it said in a statement. The company plans to lay off 10,000 people if a deal to acquire rival BG Group goes ahead. The firm reported a 10% cut in operation costs in 2015 and said it would continue to do so this year.

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