Oil and gas giant Royal Dutch Shell plans to cut over 400 jobs, mainly at its major projects and energy technology operations.
According to an internal document seen by newswire Reuters, the cuts – mostly due to take place in Netherlands – were in response to lower oil prices, and the company's shifting business model.
Shell later told the newswire that approximately 400 personnel, or nearly a quarter of the headcount at the projects and technology department are "potentially at risk of redundancy during the last quarter of 2017/first half of 2018."
The restructuring will also see dozens of research roles move from the Netherlands to Bangalore, India.
"Shell is transforming into a simpler company," a spokesperson told Reuters, adding the final number of job cuts would be subject to consultation with employees.