Owing to the weak global economy, Royal Dutch Shell reported a sharp drop in third-quarter earnings and production and said it would cut 5,000 jobs.

The 5,000 jobs would be cut from the Anglo-Dutch oil and gas group as part of a restructuring that began earlier this year. The job losses are part of a programme called Transition 2009, which was put in place by Peter Voser, who started as chief executive in July.