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Oil Company BP To Cut 10,000 Jobs Worldwide

8th June 2020

Oil company BP (BP.L) today (Monday 8 June 2020) that it was to cut 10,000 jobs at the company.,The slump caused by the Covid 19 pandemic and the resulting slump in oil prices has meant profits turning to losses.

The company is aiming to reduce capital expenditure by $3bn (£2.4bn) in 2020, and operating expenditure by $2.5bn.

Although not disclosed yet it is thought about 2000 jobs in UK would go.

Most of the people affected will be in office-based jobs with frontline being protected as far as possible.