BP to axe 4,700 jobs globally amid cost-cutting drive
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BP has said it will cut 4,700 jobs across its global workforce and 3,000 contractor roles as part of a cost-saving drive. The company did not disclose how many people were affected per country, but the reductions amount to just over 5% of its 90,000 worldwide employees.
BP has about 14,000 UK workers. Around 6,000 of those are based in petrol and service stations and will not be affected by the cuts. Chief executive Murray Auchincloss announced the redundancies in an email to staff, seen by the PA news agency, on Thursday.
He wrote: “I understand and recognise the uncertainty this brings for everyone whose job may be at risk, and also the effect it can have on colleagues and teams.”. “We have a range of support available, and please continue to show care for each other, be considerate, and keep putting safety first — especially during times of change.”.
BP said the cuts were part of a multi-year plan to make savings across the business, and that there may be more reductions this year and beyond. Mr Auchincloss added that the job losses announced on Thursday “account for much of the anticipated reduction this year”.
He said the company is “focusing resources on our highest-value opportunities” and that it has stopped or paused 30 projects since June 2024. The reductions come as the London-based energy giant tries to bring more digital capabilities into the business, with artificial intelligence increasingly playing a role in engineering and marketing operations.
