Reported 1 day ago
BP is laying off approximately 5% of its workforce, impacting around 4,700 employees and 3,000 contractor positions, as part of a broader cost-saving initiative led by CEO Murray Auchincloss. The company is aiming to streamline operations and regain investor confidence, particularly after a tumultuous 2024 that saw its stock drop over 13%. Other major oil firms, such as Shell, are also implementing job cuts as they attempt to adapt to a changing industry.
Source: YAHOO