BP plans to lay off over 4,000 workers by 2025 to cut costs and improve competitiveness.

Global oil company BP plans to lay off over 4,000 workers by 2025, including 3,000 contractor roles, to save over $2 billion by 2026. This cost-cutting measure affects about 5% of BP's 90,000-strong workforce and follows a 16% drop in company shares in 2024. BP aims to strengthen its competitiveness and reduce costs. The company has not detailed how the layoffs will be distributed globally.

2 months ago
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