BP PLC (LSE:BP.) has unveiled plans to axe 5% of its workforce in a bid to cut costs.
Some 4,700 staff are set to be laid off under the move, while 3,000 contractors will be axed, a Sky News-cited email from chief executive Murray Auchincloss said on Thursday.
“I understand and recognise the uncertainty this brings for everyone whose job may be at risk, and also the effect it can have on colleagues and teams,” he said.
“We have a range of support available, and please continue to show care for each other, be considerate, and keep putting safety first - especially during times of change.”
Cuts follow plans unveiled by the oil giant last year to save US$2 billion (£1.6 billion) by the end of 2026.
BP employs around 90,000 people globally and 14,000 workers in the UK, with the areas targeted by the cuts not specified.