31st Jul 2026 06:53
(Alliance News) - BP PLC plans to cut 700 "non-frontline" jobs to create a flatter, simpler organisational structure and save costs, the Financial Times reported on Thursday.
The London-based oil major will cut positions in its upstream division, as an internal email warned of "potential oversupply and lower oil and gas prices", meaning BP has to be "competitive at the bottom of the cycle, not just the top", the newspaper reported.
The email to staff seen by the FT was sent by Gordon Birrell, BP's executive vice-president for upstream. In it, he said the cuts will see the number of group senior leaders reduced by more than 20%.
BP shares closed down 0.4% to 541.45 pence on Thursday in London.
By Tom Waite, Alliance News editor
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