BP to cut over 5% of workforce in CEO cost cut drive
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BP is set to cut over 5% of its workforce, amounting to around 4,700 jobs, as part of a cost-cutting initiative led by CEO Murray Auchincloss.
January 16, 2025 | 11:15 am
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BP is reducing its workforce by over 5%, cutting around 4,700 jobs to lower costs under CEO Murray Auchincloss' leadership.
The reduction in workforce is a significant cost-cutting measure that could improve BP's financial performance by reducing expenses. This move is likely to be viewed positively by investors, potentially leading to a short-term increase in BP's stock price.
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