BP will not cut jobs over next three months: CEO Looney


© Reuters. BP’s new Chief Executive Bernard Looney gives a speech in central London

(Reuters) – major BP PLC (L:) will not cut over the next three months, Chief Executive Officer Bernard Looney said, even as the company seeks to reduce following an price crash.

Looney wrote in a LinkedIn (NYSE:) post on Friday while there has been reduced demand for the industry’s products, the company’s response to the crisis “will not include making any BP staff redundant over the next 3 months.”

World’s major , including BP, have said they would reduce spending following a plunge in crude prices due to the coronavirus pandemic and a price war between top producers and Russia. BP, however, has not given a specific figure.

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London-based BP employs 73,000 people across several countries.

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Source: Investing.com


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