Shell yesterday revealed plans to shut its finance office in Glasgow in a move expected to result in 380 job losses.
The energy major said it made the decision following a review of its global finance operations network.
A Shell spokesperson said the office on Bothwell Street would be closed over the next 15 months and that employees at the site would “likely face involuntary redundancy”.
The company said the work covered by the Glasgow office would be shared out among its other bases.
Shell Business Operations (SBO) currently employs around 12,000 people across Glasgow, Manila, Kuala Lumpur, Krakow, Chennai, Bangalore and Cape Town.
Shell has been taking steps to balance its books following its multi-billion dollar takeover of BG Group.
It is in the midst of a $30billion divestment programme and has been cutting thousands of jobs worldwide in recent times.
The spokesperson said: “For Shell to remain competitive, difficult choices continue to have to be made to improve efficiency and value for money across all of our businesses and functions.
“Subject to employee consultation, we are proposing to close the Shell finance operations office in Glasgow and over the next 15 months, move its activities to our other locations in our global Shell business operations network.
“This will result in a small overall reduction in the number of jobs in Shell’s global finance operations.
“Employees currently based in the Glasgow office will likely face involuntary severance.
“We are making this announcement following a review of Shell’s global finance operations global network which concluded that we have an opportunity to further consolidate that network into fewer locations.
“This decision is driven by increasing pressures on our business to reduce cost and generate cash, and reflects the fact that the capability of our other centres has evolved to be able to handle the activities that are currently performed in Glasgow, but at a significantly lower cost.
“We understand that this is very difficult news for employees. During the transition period we are committed to ensuring ongoing regular employee engagement and support.”
Scottish Liberal Democrat energy spokesperson Liam McArthur MSP said: “This news will be a devastating blow to those directly affected and their families.
“It is vital, therefore, that the Scottish Government and its agencies now work closely with Shell and staff representatives to support those impacted by this decision.
“We cannot afford to lose these skills and every effort must be made to provide training and advice to give workers the best chance to secure new roles.
“It is also important that Scottish and UK governments look again at the tax regime and take urgent action to stop decommissioning contracts floating away from Scotland to our international competitors.”
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