BP is cutting 4,700 staff positions and 3,000 contractor roles as part of a simplification program to strengthen competitiveness and lower costs.
CEO Murray Auchincloss acknowledged the uncertainty these job cuts bring and expressed understanding of the impact on employees and teams.
The company aims to improve performance while ensuring safe and reliable operations, emphasizing support for its teams during this transformation.
Despite the large-scale job cuts, BP shares experienced a 1.7% increase in morning trading, indicating a positive market response to the restructuring.
Collection
[
|
...
]