In an internal memo, Murray Auchincloss stated that the job cuts were part of a multiyear program aimed at simplifying BP's operations to strengthen competitiveness and resilience.
With the planned cuts of 4,700 jobs and 3,000 contractor positions, BP aims to save at least $2 billion by the end of 2026 to appease shareholders.
Auchincloss acknowledged the uncertainty these cuts bring, emphasizing the company's commitment to building resilience and driving performance improvements amid shareholder dissatisfaction.
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