BP to Cut 4,700 Staff and 3,000 Contractor Jobs in £1.6 Billion Cost-Saving Plan

Jan 16, 2025, 12:09 PM

BP Plc announced plans to cut 4,700 jobs, approximately 5% of its global workforce, along with eliminating 3,000 contractor roles, totaling 7,700 positions, as part of a £1.6 billion cost-cutting initiative aimed at reducing costs and boosting efficiency. CEO Murray Auchincloss informed staff of the reductions, which are part of a broader strategy to streamline operations and enhance competitiveness. BP's total workforce includes about 88,000 employees globally.