An impending takeover isn't looking good for Shell employees, as talks surrounding job cuts are announced for a second time. If the Royal Dutch Shell takeover of BG goes through, a proposed 2,800 employees will be cut from their workforce, according to NPR. Recent announcements show that the deal is very likely to continue.
These 2,800 job cuts are in addition to the 7,500 firings that Shell announced in July, according to BBC. None have yet to be implemented.
This acquisition of BG by Shell is the biggest merger in 10 years, according to Reuters. It has recently been approved by China, Australia, Brazil and the European Union.
The deal was originally valued at $70 billion, but with falling oil prices, it is believed that the value has dropped to $53 billion, according to NPR.
This has many feeling tha, "the deal doesn't make financial sense at the current oil price. You have got to be pretty bullish on the current oil price to make this deal work," according to BBC.
The deal has been in the works for months, but there is no guarantee that it will be completed, according to Reuters. If it does, however, the companies could merge as early as February.
