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BP Cuts 4,700 Internal, 3,000 Contractor Roles
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 Cuts 4,700 Internal, 3,000 Contractor Roles as it Trims Costs
Employees at the oil-and-gas giant were told of the job cuts Thursday via an email from Chief Executive Murray Auchincloss.
1d
New York City lawsuit against Exxon, BP, Shell over climate change dismissed
A judge has dismissed New York City's lawsuit seeking to hold Exxon Mobil , BP and Shell liable for misleading the public ...
Hoodline
22h
Manhattan Court Dismisses NYC Greenwashing Lawsuit Against ExxonMobil, BP, and Shell
NYC's lawsuit against ExxonMobil, BP, and Shell for greenwashing has been dismissed by a state Supreme Court judge.
Crude Oil Prices
7h
BP Slashes Jobs, Bolsters Oil & Gas Operations
The job cuts align with a renewed emphasis on bolstering BP’s oil and gas operations and steering away from renewables.
The Independent
11d
‘Drill, baby, drill’ is the new mantra of Big Oil – and now it’s coming after EVs
In the run-off of the energy crisis,
BP
reported its annual profit of $28bn in 2022, the biggest in the company’s 114-year history. That same year,
Shell
similarly broke records, with an annual ...
Upstream
12h
BP and Iraq sign deal for Kirkuk redevelopment
Meeting follows non-binding memorandum of understanding announced last August that paves way for BP’s redevelopment of Kirkuk ...
Rigzone
3d
BP CEO Auchincloss Faces a Crucial Test in Delayed Strategy Update
“BP, I’m afraid, is still in an identity crisis,” said Bank of America’s Head of European Energy Research Christopher Kuplent ...
devdiscourse
1d
BP Slashes Workforce: A Strategic Move to Cut Costs and Regain Investor Confidence
BP is set to reduce over 5% of its global workforce, impacting 4,700 employees and 3,000 contractor roles. The cost-cutting ...
8d
BP projects 44% jump in oil output from India's largest field, ONGC says
Global energy major BP has pledged to lift oil production by 44% and gas output by 89% from India's largest field off its ...
1d
on MSN
BP cuts nearly 5,000 jobs in wake of ex-CEO Bernard Looney scandal
BP will slash over 5% of its global workforce as part of CEO Murray Auchincloss’ efforts to reduce costs and rebuild investor ...
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