BP Cutting 10,000 Jobs

BP

CBJ — The effects of the COVID-19 pandemic have hit energy company BP extremely hard on word the company is shedding 10,000 jobs worldwide or about 14% of the total workforce.

The changes are expected to hit senior levels of management the most.

Low demand for both oil and gas during the pandemic has resulted in plummeting prices. The U.S. contract for oil began the year at over US$60 a barrel, collapsed to below -$37 in April and recovered to about $39 a barrel as of now.

@CanBizJournal

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