BP to Cut Global Upstream Workforce by Around 3%
May 22 2018 - 11:11AM
Dow Jones News
By Oliver Griffin
BP PLC (BP.LN) said on Tuesday that it will cut its global
upstream workforce by approximately 3%, resulting in around 540 job
losses, as it aims to improve the business's efficiency and
competitiveness.
The oil-and-gas giant said that it was making the cuts to its
18,000-strong workforce in its upstream business, which deals with
the production of crude oil and natural gas, as part of a
continuing process to modernize the company.
BP said in a statement that it continued to focus on the
efficiency of its capital spend to maintain competitiveness, adding
that it remains committed to developing upstream opportunities and
delivering its five-year growth plan.
Write to Oliver Griffin at oliver.griffin@dowjones.com
(END) Dow Jones Newswires
May 22, 2018 10:56 ET (14:56 GMT)
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