British multinational oil and gas company BP announced on Thursday that it would reduce its workforce by thousands as part of a significant cost-cutting initiative. The company aims to streamline its operations and reduce expenses in response to challenging market conditions and the ongoing transition towards cleaner energy sources.

British Petroleum (BP) Plc has announced plans to cut about 7,700 jobs as part of its ongoing efforts to reduce costs in 2025. The company plans to cut 4,700 full-time jobs and dismiss over 3,000 contractors.

British energy titan BP (NYSE: BP) unveiled a significant restructuring plan on Thursday, announcing the elimination of approximately 4,700 permanent jobs and the reduction of over 3,000

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British oil major BP on Thursday said it is planning to cut thousands of jobs as part of a major cost-cutting drive.

British energy giant BP says it will axe 4700 staff jobs, about 5% of its workforce, and is cutting thousands of contractor roles to reduce costs. The move is part of a “multi-year programme to simplify” the group and improve performance,

BP is cutting 4,700 jobs and 3,000 contractor roles as part of a drive to "simplify and focus" the oil giant, it said on Thursday.

BP Plc is eliminating 4,700 positions internally, about 5% of its workforce, and more than 3,000 contractor jobs, Chief Executive Officer Murray Auchincloss told staff on Thursday, as the London-based energy giant seeks to reduce costs.

Confirming the job losses, the FTSE 100 company said the reduction in its workforce was down to cost cutting measures.