Every lost job is a tragedy — particularly in these difficult economic times. But Shell’s cuts today are less dramatic than they first seem — particularly given the collapse in demand for oil.

TSB will axe 900 jobs.

M&C Saatchi will see its shares suspended after it missed a deadline to file its accounts, which were rocked by an accounting scandal last year.

Oil giant Shell is to cut 7,000 to 9,000 jobs.