Oil Crash Forces BP To Slash 10,000 Jobs

Supermajor BP will cut 10,000 jobs, or around 15 percent of its workforce, as it looks to cut costs amid the oil price crash resulting from the coronavirus pandemic, chief executive Bernard Looney said on Monday. As BP aims to reinvest itself as an energy company and a net-zero company by 2050 and sooner, the UK-based supermajor is resorting to job cuts—most of which in office-based positions, in order to reduce its costs as the downturn has severely affected its finances.   In March, after oil prices crashed with the demand slump and…