BP is cutting an additional 700 positions across its global production and operations divisions, specifically targeting non-frontline administrative, support, and managerial roles. This move is part of a broader restructuring effort launched in 2025 that had already eliminated approximately 4,700 employee positions and impacted around 3,000 contractor roles, representing roughly 5% of the company’s total workforce. The energy giant cites anticipated oversupply in global oil markets as the rationale for these latest cuts. No details have been released regarding which geographic regions will be most affected, the implementation timeline, or severance packages.
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