Iran Press/ Europe: The multinational oil and gas company British Petroleum (BP), headquartered in London, is planning to cut about 15% of its workforce due to the crisis caused by the COVID-19 pandemic, sources in the company told Reuters.
According to the report, Chief Executive Bernard Looney told employees in an online call that by the end of this year, the company will cut 10,000 of its 70,100 jobs.
The plan is reportedly part of Looney’s effort to shift the oil and gas giant to renewable energy.
The company hasn't yet commented on the matter.
The report comes after the company announced in April a 25% reduction in 2020 spending as the coronavirus outbreak brought an unprecedented drop in demand for oil.
On April 28th, BP reported a $4.4 billion net loss in the first quarter of this year after global demand dropped dramatically amid the COVID-19 pandemic, as a UK-based industry body has warned of 30,000 job cuts in the oil and gas industry over the next 18 months.
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