BP to cut 10,000 jobs worldwide amid huge drop in demand for oil

CEO tells staff company is responding to economic fallout of the Covid-19 pandemic

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BP has announced plans to cut 10,000 jobs, representing about 15% of the oil group's 70,000 staff, by the end of the year.

Bernard Looney, BP's chief executive, told employees that the job cuts were essential to enable the company to cope with a global collapse in demand for oil owing to the coronavirus pandemic. He said BP must reinvent itself and emerge from the crisis a leaner, faster-moving and lower carbon company".