BP to Slash 4,000 Jobs in Face of Oil Downturn

In the North Sea, he said BP planned to reduce headcount by 600 people over the next two years with most cuts likely in 2016.

Fox Business, --January 12, 2016

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British oil and gas company BP announced plans on Tuesday to slash 5 percent of its global workforce in the face of a continued slump in oil prices.
It said it aims to reduce its global oil production, or upstream, headcount by 4,000 to 20,000 as it undergoes a $3.5 billion restructuring program. BP said its headcount totaled around 80,000 at the end of 2015. With crude oil prices at 12-year lows of around $32 a barrel, the world's biggest oil and gas producers are set to continue aggressively slashing spending this year as they face their longest period of investment cuts in decades. More...

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