BP to reduce workforce by 4,700 jobs, 3,000 contractor positions
Date
1/16/2025 8:32:55 AM
(MENAFN) BP, the global energy giant, has announced plans to reduce its workforce by 4,700 jobs and 3,000 contractor positions worldwide in an effort to cut costs. This move represents approximately 5 percent of the company's total global workforce of 90,000 employees. The announcement was made by Chief Executive Murray Auchincloss, who communicated the decision in an email to staff on Thursday.
In the email, Auchincloss acknowledged the uncertainty and concern this decision would bring to employees potentially affected by the job cuts, as well as the impact it could have on teams across the company. He emphasized that BP has various support mechanisms in place to assist those impacted by the redundancies.
The job reductions come as BP faces challenges related to its transition towards net-zero emissions. The London-based company has committed to reducing its costs by at least two billion U.S. dollars by the end of 2026, as part of its efforts to navigate the evolving energy landscape. Auchincloss reiterated the importance of improving BP's competitiveness to keep pace with both customer demands and broader societal shifts.
"We have to keep improving our competitiveness and moving at the pace of our customers and society," he stated, outlining the need for ongoing adaptation to meet future energy needs.
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