LONDON - BP will cut about 15 percent 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
LONDON - BP will cut about 15 percent 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.
"We will now begin a process that will see close to 10,000 people leaving BP – most by the end of this year," Looney said in a statement.BP shares were up 3.3 percent by 1230 GMT, against a 2.2 percent gain for the broader European energy sector. About a fifth of the job cuts will take place in Britain, where BP employs 15,000 people, a company spokesman said.
"It was always part of the plan to make BP a leaner, faster-moving and lower-carbon company," Looney said.Looney last month announced a large round of senior management appointments, halving the size of BP's leadership team under his plan to reshape the company's structure.
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