Key facts
- BP plans to cut approximately 700 jobs globally.
- The job cuts represent about 8% of the company's non-frontline roles.
- BP is simplifying its operations to reduce debt and increase profits.
- The company is refocusing on oil and gas investments.
BP plans to eliminate approximately 700 jobs worldwide as part of a broader strategy to simplify its operations, reduce debt, and enhance profits. The reductions will impact roughly 8% of the company's non-frontline positions within its production and operations business, according to an internal email seen by Reuters. Frontline roles, such as operators and technicians, are not expected to be materially affected. The oil giant is intensifying efforts to streamline its business and refocus on oil and gas investments, having previously reduced its commitment to renewable energy projects. A BP spokesperson confirmed proposed changes would result in a reduction of roles but did not specify the exact number.