Royal Dutch Shell plc’s global workforce by the end of 2022 is expected to have up to 9,000 fewer people, including 1,500 taking voluntary retirement this year, the energy major said in a third quarter update.

Post-tax impairments in the 3Q2020 update were estimated at $1-1.5 billion. The preliminary report indicated that Shell expects to report its second consecutive quarterly loss. 

CEO Ben van Beurden, who oversees the estimated 80,000-member workforce, said reduced organizational complexity and other measures should deliver “sustainable” annual cost savings of $2-2.5 billion by 2022. The cost savings would contribute to the underlying operating cost reductions of $3-4 billion by early next year.

The “simpler, streamlined” focus in the upstream is on providing...