BP announced on Thursday, January 16, that it will reduce its global workforce by over 5%
BP announced on Thursday, January 16, that it will reduce its global workforce by over 5% as part of CEO Murray Auchincloss' strategy to cut costs and rebuild investor confidence. The company plans to eliminate approximately 4,700 employee positions and 3,000 contractor roles this year, as revealed in an internal memo. BP's shares rose 1.8% by 1110 GMT following the announcement.Auchincloss had previously stated that BP aimed to cut costs by at least $2 billion by the end of 2026 to improve returns and address concerns over its energy transition strategy.
The cuts also come as Auchincloss works to restore confidence after the sudden resignation of his predecessor, Bernard Looney, in September 2023, due to undisclosed relationships with employees.
The job reductions follow a comprehensive review of BP’s divisions, though the exact breakdown of the cuts has not been disclosed. BP’s total workforce is approximately 90,000.
U.S. President Donald Trump has denied reports that he offered Iran sanctions relief and access to frozen funds in exchange for nuclear concessions...
Kazakhstan and Germany have agreed to expand cooperation in critical minerals, industry, energy and transport, with Astana seeking a greater German...
Global cholera deaths reached their highest annual level in more than 20 years in 2025, despite a decline in reported cases, according to the World...
A Russian guided aerial bomb has struck an apartment building in Kharkiv, injuring 22 people, including children, according to the city’s mayor. The strike follows a day of near-continuous Russian attacks across Ukraine that killed at least five people.
Here's your AnewZ Daily Brief for 28 September 2026. These are the top stories making headlines in technology.
Saudi Foreign Minister Prince Faisal bin Farhan has arrived in Washington for talks with U.S. Secretary of State Marco Rubio on bilateral ties and key regional and international developments, Saudi state news agency SPA reported.
The European Union's decision to simultaneously advance accession talks with Ukraine, Moldova, Montenegro and Albania marks its most ambitious enlargement effort in more than two decades.
U.S. President Donald Trump has denied reports that he offered Iran sanctions relief and access to frozen funds in exchange for nuclear concessions.
British Prime Minister Andy Burnham has declared that Brexit has done more harm than good, while reaffirming support for Ukraine and NATO as he used his first Labour conference speech as leader to set out a new direction for Britain.
The arrival in South Korea of two North Korean soldiers captured while fighting for Russia has created a rare legal, diplomatic and humanitarian case, raising questions over their status, security and future.
At midnight on 30 September, the last U.S. troops are due to leave Iraq, ending a military presence that began with the 2003 invasion and cost the lives of around 4,500 American service members.
Here’s your AnewZ Daily Brief for 29 September 2026, with the latest from Azerbaijan, from $10.8 billion in investment deals and Formula 1 drama to diplomacy and preparations for major FIFA tournaments.
Crude oil exports from major Middle Eastern producers rebounded in September to their highest level since the U.S.-Israeli war on Iran began in late February, according to data from analytics firm Kpler.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment