12th Jan 2016 13:42
LONDON (Alliance News) - BP PLC is to cut thousands more jobs across its global operations as it continues to struggle in the face of the ongoing slump in the oil price, Reuters reported.
BP will cut 5% of its global workforce, or around 4,000 jobs, focused on its upstream business as part of a USD3.5 billion restructuring programme the group is undertaking.
"We want to simplify (our) structure and reduce costs without compromising safety. Globally, we expect the headcount in upstream to be below 20,000 by the end of the year," a company spokesman told Reuters.
http://www.reuters.com/article/us-bp-cuts-idUSKCN0UQ1HY20160112
By Sam Unsted; [email protected]; @SamUAtAlliance
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