There is much reason for the 82,000-strong workforce of Shell to rejoice. The energy company has witnessed record profits, and has decided to give its employees a one-off bonus of eight per cent.
These profits can be attributed to the rise in the prices of oil and gas. The Company has clarified that this bonus is being granted because of the Company’s profits and financial success and not to help employees combat inflation.
This eight per cent bonus is Shell’s way of recognising the contribution of its people, which the Company acknowledges has helped in achieving strong performance despite the challenging scenario of today.
This bonus, the Company maintains, is a reward that allows employees to be a part of its financial success. The shareholders of Shell will also gain from the profits.
However, the employees of Shell Energy Retail, which has been incurring losses, will not be receiving this bonus.
The Ukraine war has led to reduced supplies to Europe from Russia. There is fear of the supply being stopped altogether. This uncertainty has caused the prices of gas and oil to rise, which has increased the pressure on energy bills across homes. As a result, petrol and diesel have become very expensive too.
Meanwhile, the Government of UK has rolled out various measures to help citizens deal with their energy bills. Oil and gas companies have been asked to shell out an additional 25 per cent on profits.