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.
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Two people were killed and around 40 injured when a tram derailed in central Milan on Friday (27 Februrary), a spokesperson for local firefighters sai...
Abdullah Öcalan, the jailed leader of the outlawed Kurdistan Workers’ Party (PKK), issued a statement on Friday (27 February) calling on Ankara to ...
Colombia’s commerce minister, Diana Marcela Morales, has said she will propose raising tariffs on certain Ecuadorian goods from 30% to 50%, as a tra...
Former U.S. President Bill Clinton said on Friday (27 February) that he had no knowledge of the crimes committed by Jeffrey Epstein and would not have...
BP has announced that a seismic survey programme for the Ashrafi–Dan Ulduzu–Aypara (ADUA) project in the Azerbaijani sector of the Caspian Sea will be carried out between February and April next year, according to Report.
Shell has denied reports that it is in talks to acquire BP in a historic £60 billion deal, despite ongoing market speculation about a potential merger between the two oil giants.
bp, in collaboration with its partners, has signed a series of agreements to strengthen and expand its significant oil and gas interests in Azerbaijan.
Tensions between the U.S. and Iran are escalating, with Washington ordering a significant military build-up in the region and multiple countries evacuating diplomatic staff amid fears of further instability.
The death toll from heavy rains and flooding in Brazil’s Minas Gerais state has risen to 46, authorities said, with 21 people still reported missing. The storms triggered landslides and widespread flooding, displacing thousands across Juiz de Fora and Uba.
The situation in Cuba was heating up and called for restraint following a deadly incident involving a Florida-registered speedboat off the coast of the Caribbean island, the Kremlin said on Thursday (26 February).
Venezuela’s Attorney General Tarek William Saab and Ombudsman Alfredo Ruiz tendered their resignations to the National Assembly on Wednesday. Neither official has publicly provided reasons for stepping down.
Pakistani air strikes hit a weapons depot on the western outskirts of Kabul overnight, triggering hours of secondary explosions that rattled homes across the Afghan capital and left residents fearing further violence.
Tensions between the U.S. and Iran are escalating, with Washington ordering a significant military build-up in the region and multiple countries evacuating diplomatic staff amid fears of further instability.
Two people were killed and around 40 injured when a tram derailed in central Milan on Friday (27 Februrary), a spokesperson for local firefighters said.
Colombia’s commerce minister, Diana Marcela Morales, has said she will propose raising tariffs on certain Ecuadorian goods from 30% to 50%, as a trade dispute between the neighbouring countries intensifies.
Former U.S. President Bill Clinton said on Friday (27 February) that he had no knowledge of the crimes committed by Jeffrey Epstein and would not have flown on the late convicted sex offender’s plane had he had any inkling of his activities.
Some of Iran's most highly enriched uranium, close to weapons grade, was stored in an underground area of its nuclear site in Isfahan, the UN nuclear watchdog said in a confidential report sent to member states on Friday (27 February).
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