BP plans new deep staff cuts to withstand oil price storm

12 Jan, 2016 4:00 pm

LONDON – Oil major BP plans to cut at least 4,000 jobs globally in its oil production division this year to reduce costs amid a steep decline in oil prices.

“We want to simplify 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 said.

He said BP was planning to reduce headcount by 600 people in the North Sea over the next two years with most cuts to happen in 2016. -Reuters

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