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Oil giant BP is to cut about 4,700 staff, more than 5% of its total workforce, as part of its plans to cut costs.<\/p>\n
The British firm, which has a global workforce of about 90,000 people, confirmed the job losses on Thursday, but has not said how many roles will be affected in each country it operates in.<\/p>\n
An email to staff also confirmed that about 3,000 contractor positions will also be axed this year.<\/p>\n
BP employs about 14,000 people in the UK, of which about 6,000 are based in petrol and service stations, and will not be affected by the cuts.<\/p>\n<\/div>\n
Chief executive Murray Auchincloss, who announced last year his intentions to simplify the business, is understood to have set a cost reduction target of $2bn (\u00a31.6bn) by the end of 2026, of which $500m is to be saved this year.<\/p>\n
In an email to staff he said: “We have got more we need to do through this year, next year and beyond, but we are making strong progress as we position BP to grow as a simpler, more focused, higher-value company.”<\/p>\n
The boss added that he recognised “the uncertainty this brings for everyone whose job may be at risk, and also the effect it can have on colleagues and teams”.<\/p>\n
The job cuts come as the energy giant tries to bring more digital capabilities into the business, with artificial intelligence playing a growing role in engineering and marketing operations.<\/p>\n
Mr Auchincloss’s email said that about 2,600 of the contractors affected by the cuts had already left the business.<\/p>\n<\/div>\n