BP issued a statement that today the company’s employees were informed that the proposed changes that have been announced so far will likely impact around 4,700 jobs this year. Currently, the fuel company’s staff numbers approximately 87,800 people.
“We are also reducing the number of our subcontractors by 3,000” the company said.
Measures taken by the company’s management, incl dismissal of about 5%. creware intended to reduce costs. Already last year, BP CEO Murray Auchincloss announced that dby the end of 2026, the company aims to save at least $2 billion.
Costly corrective actions
BP has not been doing very well recently, and it performs poorly compared to its European rivals.
In a trading update published on Tuesday and cited by sia CNBC, BP announced that weaker refining margins and turnaround efforts will result in fourth-quarter losses of $100 million to $300 million. The company expects further declines in crude oil production in future periods.
BP is scheduled to report quarterly and full-year results on February 11.
The information comes from CNBC
