Shell to axe another 1,000 jobs as it aims to 'sharpen up'

The Anglo-Dutch firm, which employs 100,000 staff worldwide, cut 5,000 posts last year and had already announced 1,000 job losses for this year. The company said it would axe another 1,000 jobs by the end of 2011, but did not say where the cuts will be made

"The company had become too complicated and slower to respond than we'd like. So we are sharpening up," said chief executive Peter Voser.

Shell employs around 8,500 staff in the UK at sites including Aberdeen, London and the Stanlow refinery in Ellesmere Port, which is up for sale.

Mr Voser said Shell is entering a "new period of growth" as he pledged to turn around years of underperformance and grow production 11 per cent to 3.5m barrels a day by 2012, up from 3.15m in 2009.

Analysts said the output target exceeded their expectations. "It's a very strong message," said one analyst.

Shell previously said it expected production to be flat in 2010, with new projects ramping up in 2011 and 2012.

The group added it is assessing 35 new projects which could deliver 8bn barrels of oil equivalent resources. These projects, which are particularly focused on North America and Australia, should underpin a "new wave" of production growth to 2020.