Only a quarter of BP’s 10,000 job cuts to be voluntary

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Sat, 2020-10-17 02:33

LONDON: 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 percent 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.

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