{"id":379057,"date":"2020-10-17T10:40:21","date_gmt":"2020-10-17T05:10:21","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=379057"},"modified":"2020-10-17T11:57:45","modified_gmt":"2020-10-17T06:27:45","slug":"only-one-fourth-of-oil-major-bps-10000-job-cuts-to-be-voluntary-as-company-reinvents-itself","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/only-one-fourth-of-oil-major-bps-10000-job-cuts-to-be-voluntary-as-company-reinvents-itself\/","title":{"rendered":"Only one fourth of oil major BP&#8217;s 10,000 job cuts to be voluntary as company reinvents itself"},"content":{"rendered":"<p>LONDON: BP is set to make around 7,500 compulsory redundancies after roughly 2,500 staff &#8211; or just over one in ten of those eligible &#8211; applied for voluntary severance, according to an internal memo seen by Reuters and company sources. <\/p>\n<p>The oil major announced plans in June to lay off almost 15% its 70,000-strong workforce as part of Chief Executive Bernard Looney&#8217;s plan to cut costs and &#8220;reinvent&#8221; the business for a low carbon future. <\/p>\n<p>Most of the layoffs will come from office-based staff in BP&#8217;s core oil and gas exploration and production division, where thousands of engineers, geologists and scientists are set to leave. They will not impact frontline production facilities.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>LONDON: BP is set to make around 7,500 compulsory redundancies after roughly 2,500 staff &#8211; or just over one in ten of those eligible &#8211; applied for voluntary severance, according to an internal memo seen by Reuters and company sources. The oil major announced plans in June to lay off almost 15% its 70,000-strong workforce as part of Chief Executive Bernard Looney&#8217;s plan to cut costs and &#8220;reinvent&#8221; the business for a low carbon future. Most of the layoffs will come from office-based staff in BP&#8217;s core oil and gas exploration and production division, where thousands of engineers, geologists and [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,191,136],"tags":[],"class_list":["post-379057","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-economic-times","category-the-economic-times"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/379057","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=379057"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/379057\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=379057"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=379057"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=379057"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}