...By Joseph Benjamin for TDPel Media.
Royal Dutch Shell, the Anglo-Dutch oil major, has reported profits of £7.7 billion ($9.65 billion) for the first quarter of 2023, beating forecasts by £0.7 billion ($0.65 billion) but easing back from the previous quarter’s $9.8 billion.
However, despite the strong earnings, Shell has decided to leave its dividend on hold.
The company’s CEO, Wael Sawan, said that Shell’s “strong results and robust operational performance” were achieved “against a backdrop of ongoing volatility, while continuing to provide vital supplies of secure energy.”
The high energy prices caused by Russia’s invasion of Ukraine have led to calls for further windfall taxes on the energy sector.
WANdisco to Cut 30% of Staff as Fallout from Accounting Scandal Continues
WANdisco has announced that it will lay off approximately 30% of its workforce, as it continues to deal with the fallout from a major accounting scandal.
The firm had 159 employees when it published its last annual report just over a year ago, and the job cuts will affect all regions and business areas.
The Sheffield and San Francisco-based firm revealed in March that it had uncovered potentially fraudulent sales, which meant that its bookings would be much lower than previously reported.
Subsequently, WANdisco revealed that its bookings should have been $11.4 million rather than $127 million.
The announcement from WANdisco highlights the continuing fallout from the scandal and the difficult financial position of the company.
The company was once a UK tech darling, but the revelations have had a profound impact on the company’s reputation and finances.
The decision to cut jobs across all regions and business areas suggests that WANdisco is still struggling to regain its footing.