Signage of British oil and gas company BP (British Petroleum) is pictured in Warsaw, Poland on July 29, 2024.
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British oil major P.A. said Thursday it plans to cut thousands of jobs as part of a broad cost-cutting drive.
“Today we informed BP staff that the proposed changes that have been announced so far are expected to impact approximately 4,700 BP positions – these represent a large portion of the planned reduction this year” , BP said in a statement.
“We are also reducing the number of our subcontractors by 3,000,” the company said.
BP shares rose 1.6% Thursday morning.
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