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London-based energy firm BP plan to cut its global workforce by just over five per cent, resulting in 4,700 job losses.
The oil giant will also remove 3,000 contractor positions, reports Reuters, having seen an internal memo letting staff know of the upcoming changes.
CEO Murray Auchincloss announced the news after recovering from a medical procedure recently which enforced a delay to an investor event. Auchincloss was previously the CFO at BP and replaced Bernard Looney after his resignation from the top role in 2023.
“We have got more we need to do through this year, next year and beyond, but we are making strong progress as we position bp to grow as a simpler, more focused, higher-value company,” Auchincloss was reported saying in the memo to staff.
More to follow…
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