Oil giant Shell has announced it will give employees a one-off 8 per cent bonus after the company reported record profits.
It is understood that most of the company's 82,000 employees worldwide will be eligible for the bonus. The only ones in the company who will be excluded from the pay top-up will be those at the executive vice president level or higher.
Shell has remarked that the award reflects the company's current financial success and is not linked to the growing challenges emerging from the rising cost of living crisis. A Shell spokesperson said: “In recognition of the contribution our people have made to Shell’s strong operational performance against a recent challenging backdrop, our executive committee has decided to make a Special Recognition Award of 8% of salary to all eligible staff across the world.
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“The award enables those employees to share in our current operational and financial success – it is not a response to inflation or cost-of-living challenges.” The oil giant announced last week that its adjusted earning hit nearly $11.5 billion (£9.5 billion).
It comes after the whole-market price of gas has increased due to the ongoing conflict in Ukraine stemming from Russia's invasion in March. It is predicted that gas and electricity bills could reach as high as £3,615 on average in the UK next years, according to consultancy Cornwall Insight.
Meanwhile, the Scottish Greens political party commented on how "obscene" it was that energy companies were making record profits while households are struggling to cope with high bills.
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