BP to Lay Off 4,700 Employees and 3,000 Contractors to Cut Costs and Rebuild Investor Confidence
British Petroleum (BP) has announced a significant restructuring initiative that will see the company lay off approximately 4,700 employees and 3,000 contractors. This decision is part of a broader strategy aimed at reducing costs and restoring investor confidence in the energy giant’s stock.
BP to slash thousands of jobs in cost-cutting move
British Petroleum, the U.K.-based oil and gasoline company commonly known as BP, is cutting nearly 5,000 jobs across the globe.
BP to slash global workforce by 5%
The move, aimed at rebuilding investor confidence, will see approximately 4,700 employees and 3,000 contractor roles eliminated this year, according to an internal memo seen by Reuters . It will also reduce the company's headcount for the first time since the COVID-19 pandemic.
BP cuts over 5% of workforce to reduce costs
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British Petroleum to cut 7,700 jobs to reduce costs
British Petroleum (BP) Plc has announced plans to cut about 7,700 jobs as part of its ongoing efforts to reduce costs in 2025. The company plans to cut 4,700 full-time jobs and dismiss over 3,000 contractors.
BP to cut 5% of global workforce, mostly from office staff
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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 cutting 4,700 jobs worldwide as part of cost-saving drive
U.K.-based oil company BP is cutting 4,700 jobs worldwide and a further 3,000 contractor roles as part of a cost-saving drive. In an email to staff on Thursday that has been seen by The Associated Press,
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Oil giant British Petroleum to lay off 4,700 employees
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