Oil giant BP (BP) is laying off about 5% of its workforce as it looks to bring down costs, CEO Murray Auchincloss told staff in an internal memo Thursday.

BP Plc’s Chief Executive Officer Murray Auchincloss faces a critical moment next month when he makes the delayed presentation of a new strategy to investors.

BP PLC (NYSE: BP) plans to cut about 4,700 jobs, roughly 5% of its global workforce, as part of companywide simplification ...

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

Sources close to the company say there is growing frustration over the firm's direction, adding that the investor update on ...

In an email to staff on Thursday that has been seen by The Associated Press, CEO Murray Auchincloss said the job losses ...

Results from Rhino Resources’ well could be unveiled soon as state oil company updates all Orange basin activities ...

BP will cut over 5% of its global workforce as part of a strategy to reduce costs and rebuild investor confidence. CEO Murray Auchincloss aims to simplify operations and boost returns following the ...

Petroleum giant British Petroleum will cut 4,700 jobs this year in a cost cutting measure, the company announced Thursday.

London-based energy firm BP plan to cut its global workforce by just over five per cent, resulting in 4,700 job losses. The ...