Author Topic: BP to Cut Jobs in UK as Part of Worldwide Cutbacks  (Read 3724 times)

0 Members and 1 Guest are viewing this topic.

Offline Learnist Careers

  • Administrator
  • *****
  • Posts: 2815
    • Share Post
BP to Cut Jobs in UK as Part of Worldwide Cutbacks
« on: January 08, 2015, 10:47:55 AM »

BP has announced that there will be hundreds of job losses in their UK offices as part of their global job cuts. The jobs will be lost from London. Sunbury and Aberdeen as they have to cut back due to falling oil prices and the spillage in the Gulf of Mexico. The staff cutbacks will be made in the areas of legal, communications and procurement.

Worldwide the company employs 84,000 people and 15,000 of these are in the UK. The price of oil went down by 40% in 2014 which means that BP and other oil companies have had to think about exploration and production and whether there is a current need to continue with these.

BP has sold off $40bn worth of assets to pay for the Deepwater Horizon accident and this means they have half the amount of pipelines and offshore fields as well as less wells.

Other oil companies such as Chevron, Shell and Statoil have also announced job losses s they have to also cope with the reduction in  demand for oil as well as demands from shareholders for higher dividends.

Eighteen months ago there was a warning that Shell would be reviewing its exploration and production activities in light of more streamlined activities. BP will announce how it plans to change the way that the company operates and concentrate on value not volume. With the reduction in oil prices as well as sanctions against Russia with a 20% holding in Rosneft they have had a lot to deal with. This may even lead to Putin seizing the BP assets in Rosneft with Russia being so cash strapped at the moment.

The lower prices have been partly due to the US relying more on shale for fuel and a lower demand as well. Opec also declined to cut production so there is a saturation in the market. There is worry in the market about how much more prices can fall.


upload CV


  • Guest
Re: BP to Cut Jobs in UK as Part of Worldwide Cutbacks
« Reply #1 on: January 18, 2016, 02:23:38 PM »
Will other oil companies follow suit do you think? This could lead to the job market being saturated with applicants.

Share via reddit Share via twitter

Part time Jobs

Started by keiralaw on Part Time and Temporary Employment

0 Replies
Last post October 07, 2010, 01:05:53 PM
by keiralaw
Part Time Gardener Jobs

Started by Learnist Careers on Part Time and Temporary Employment

1 Replies
Last post April 06, 2012, 09:41:03 AM
by Learnist Careers
Manchester Part-Time Jobs

Started by Learnist Careers on Jobs in Manchester

0 Replies
Last post January 23, 2012, 12:21:17 PM
by Learnist Careers
Part-Time Accountant Jobs

Started by Learnist Careers on Part Time and Temporary Employment

1 Replies
Last post April 06, 2012, 10:11:30 AM
by Learnist Careers

With Quick-Reply you can write a post when viewing a topic without loading a new page. You can still use bulletin board code and smileys as you would in a normal post.

Warning: this topic has not been posted in for at least 120 days.
Unless you're sure you want to reply, please consider starting a new topic.

Note: this post will not display until it's been approved by a moderator.
Name: Email:
Type the letters shown in the picture
Listen to the letters / Request another image
Type the letters shown in the picture:
Who is the prime minister of UK? (surname):

* Recent Topics

What is the minumum time between shifts? by erry09e8
[September 16, 2018, 01:26:38 PM]

Can I resign before I am dismissed? by erry09e8
[September 16, 2018, 01:20:06 PM]

dismissal after giving notice by erry09e8
[September 16, 2018, 01:17:25 PM]

Resigning from my job - Paying back holiday? by css08e4
[September 16, 2018, 01:13:12 PM]

Resignation Refused by jays67i9
[September 16, 2018, 01:10:23 PM]