Shell (LON:RDSa) PLC (LSE:SHEL, NYSE:SHEL) will give almost all staff a one-off bonus after the oil company reported record profits as energy prices continue to rocket.
The oil and gas giant said 82,000 staff members are entitled to the 8% bonus – but the top brass are excluded.
“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,” Shell said in The Guardian.
Last week, the FTSE 100 company announced record profits for the second consecutive quarter of £9.5bn and promised to give back £6.5bn to shareholders in payouts.
Executive committee members, executive vice-presidents and contractors are not entitled to the handout.
The bumper profits reported by oil companies were described as “an insult to the millions of working people struggling to get by because of soaring energy bills,” by Trade Unions Congress general secretary Frances O’Grady.