Anglo-Dutch supermajor Shell is planning to cut between 7000 and 9000 jobs — between about 8.5% and 11% of its global workforce — as part of a drive to streamline its business to thrive in the energy transition.

The company said in a trading update on Wednesday ahead of interim results due next month that “reduced organisational complexity”, along with other measures, are expected to deliver sustainable annual cost savings of between $2 billion and $2.5 billion by 2022.

Shell employs about 83,000 people worldwide.