BP Won't Lay Off Employees Amid Coronavirus Cost-Cutting
April 01 2020 - 8:13AM
Dow Jones News
By Maitane Sardon
BP PLC said Wednesday that it won't cut jobs or lay off
employees as part of the measures it is implementing to reduce
expenses and improve profitability during the coronavirus
pandemic.
The British oil-and-gas company said the decision to not cut
jobs will apply during the next three months.
"We simply do not want to add another burden during what is
already an incredibly stressful time for individuals and families,"
said Chief Executive Bernard Looney.
The company said it will avoid layoffs as it announced that it
expects results in the first quarter of this year to be hit by low
commodity prices and current weak demand for fuels due to
coronavirus restrictions.
Some other measures BP said it has taken to protect its workers
include changing shift patterns to make social distancing easier,
reducing nonessential activity and offering psychological
support.
The company also said it has donated $2 million to the Covid-19
Solidarity Response Fund and is supplying free fuel to
emergency-services vehicles and ambulances in some European
countries.
Write to Maitane Sardon at maitane.sardon@wsj.com
(END) Dow Jones Newswires
April 01, 2020 07:58 ET (11:58 GMT)
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