Texas-headquartered BP announces massive layoffs, workforce reduction
Houston-headquartered BP plans to cut 5 percent of its workforce—about 4,700 jobs—as part of a larger cost-cutting program. The company also intends to cut about 3,000 contractor positions. The oil and gas giant said in an internal memo sent to employees that the organization is aiming to reduce costs by at least $2 billion by the end of 2026.
BP Announces Layoffs, Aims to Cut At Least $2B in Costs by 2026
BP plc BP, the British oil and gas giant, has announced job cuts to reduce its global workforce as part of its cost-cutting initiatives to restore investors’ confidence in the energy stock. The company will reduce its global staff by 5%,
BP to cut 4,700 jobs to reduce costs
Oil giant BP is to cut about 4,700 staff, more than 5% of its total workforce, as part of its plans to cut costs. The British firm, which has a global workforce of about 90,000 people, confirmed the job losses on Thursday,
Oil Giant BP Cuts Thousands Of Jobs To Slash Costs
British energy giant BP on Thursday said it would axe 4,700 staff jobs -- about five percent of its workforce -- and was cutting thousands of contractor roles to reduce costs.
BP announces 8,000 layoffs in global restructuring plan
BP will lay off up to 5% of its workforce worldwide, the company announced on Thursday. This move means that thousands of employees will lose their jobs. The British oil giant noted that the layoffs aim to reduce costs and rebuild investor confidence.
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The job cuts align with a renewed emphasis on bolstering BP’s oil and gas operations and steering away from renewables.
BP to axe thousands of job in cost cutting drive
BP told staff on Thursday its plans would impact around 4,700 roles and that it would also reduce contractor numbers by 3000.
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