Shell's restructuring move may affect 24,000 jobs: report

Energy giant Royal Dutch Shell has come up with a major restructuring initiative which could affect as many as 24,000 jobs.

British daily The Times reported that "up to 24,000 jobs are at risk in Shell after the oil group unveiled plans for a major restructuring".

The company today unveiled a series of changes in senior management roles and responsibilities, mainly aimed at sharper focus on operating performance and technology.

In a statement, the firm said the changes would be effective from July 1, 2009.

Commenting on the restructuring move, Peter Voser, who takes over from Jeroen van der Veer as the Chief Executive Officer on July 1, said it would increase accountability in the company.

"The new structure will increase accountability in the company, and improve Shell's performance on delivering new projects and developing new technologies," Voser said in the statement.

He also pointed out that the changes would accelerate the firm's plans to reduce complexity, corporate overheads and costs, among others.