BP plans to cut around 15per cent of its workforce in response to the coronavirus crisis and as part of Chief Executive Bernard Looney's plan to ...
LONDON: BP will cut about 15 per cent of its workforce in response to the coronavirus crisis and as part of Chief Executive Bernard Looney's plan to shift the oil and gas major to renewable energy, it said on Monday .
About a fifth of the job cuts will take place in Britain, where BP employs 15,000 people, a company spokesman said. BP has flagged a 25 per cent cut to US$12 billion this year and said it would find US$2.5 billion in cost savings by the end of 2021 through the digitalisation and integration of its businesses.On Monday, however, Looney said the company is likely to need to cut costs even further.
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