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BP announced major job losses
BP has announced that it will cut its global workforce of 70,000 by 10,000 as part of a restructuring to make the company more integrated, flatter and smaller, actions it says have been accelerated and amplified by the need to respond to market conditions and reduce its costs.
The roles affected will be office-based, not front-line operational roles, and the majority of those affected are expected to leave this year. The changes are expected to significantly impact senior levels in the company as BP introduces its flatter structure – for example, it expects the number of group leaders (the top ~400 in BP) to be reduced by a third.
News Item details
Journal title: Petroleum Review
Subjects: Economics, business and commerce, Business management, Jobs
