BP is set to make around 7,500 compulsory redundancies after roughly 2,500 staff – or just over one in ten of those eligible – applied for voluntary severance, according to an internal memo seen by Reuters and company sources. The oil major announced plans in June to lay off almost 15% its 70,000-strong workforce as part of Chief Executive Bernard Looney’s plan to cut costs and “reinvent” the business for a low carbon future. A BP spokesman confirmed the voluntary redundancy figure. …read more
Source:: Yahoo Finance
