Employees at the oil-and-gas giant were told of the job cuts Thursday via an email from Chief Executive Murray Auchincloss.

BP (NYSE:BP) will cut more than 5% of its global workforce, CEO Murray Auchincloss told staff on Thursday, as the company seeks to reduce costs and rebuild investor confidence. BP (BP) will eliminate 4,

BP Plc is cutting 4,700 positions internally and 3,000 contractor jobs, Chief Executive Officer Murray Auchincloss told staff on Thursday, as the London-based energy giant seeks to reduce costs.

BP Plc is eliminating 4,700 positions internally, about 5% of its workforce, and more than 3,000 contractor jobs, Chief Executive Officer Murray Auchincloss told staff on Thursday, as the London-based energy giant seeks to reduce costs.

BP announced on Thursday that it will cut around 4,700 staff, or over 5% of its total workforce, as part of CEO Murray Auchincloss' efforts to reduce costs.

BP will cut over 5% of its global workforce as part of a strategy to reduce costs and rebuild investor confidence. CEO Murray Auchincloss aims to simplify operations and boost returns following the resignation of his predecessor.

BP shares rose by 1.6% to 429.90p as of 11:05 a.m. in London, outperforming most European energy peers of the Stoxx Europe 600 Energy Index, which rose 0.2%.

BP is set to reduce over 5% of its global workforce, impacting 4,700 employees and 3,000 contractor roles. The cost-cutting initiative aims to save at least $2 billion by 2026 and restore investor confidence following the abrupt resignation of former CEO Bernard Looney.

BP is to cut nearly 8,000 jobs as tough net zero rules pile pressure on oil and gas companies...

London-based energy firm BP plan to cut its global workforce by just over five per cent, resulting in 4,700 job losses. The oil giant will also remove 3,000 contractor positions, reports Reuters, having seen an internal memo letting staff know of the upcoming changes.