BP Plc to cut jobs in production, refining as oil prices slump below $70 – Houston Business Journal

London-based BP PLC (NYSE: BP) plans to reduce staff by cutting mid-level managers across the board in production, refining and in corporate offices, the company told the Times of London.The announced cuts come after continued drops in oil prices, which are currently below $70 a barrel. BP, which has about 84,000 employees, is one of Houston’s largest energy employers with about 10,000 people in the region. Some cuts are expected to take place in Houston, where the company houses its main U.S. offices. Project freezes may also take place.

via BP Plc to cut jobs in production, refining as oil prices slump below $70 – Houston Business Journal.

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