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

0
40

© 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.

Article continues below Advertisement...

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

Disclaimer: Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for purposes. Therefore Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest forms possible.

Source: Investing.com

LEAVE A REPLY

Please enter your comment!
Please enter your name here