BP to Lay Off 500 Workers in Houston
BP plc, headquartered in the UK, has announced it will lay off 500 of its workers in Houston.
According to a letter to the Texas Workforce Commission, the oil and gas super major will lay off many of the employees beginning in early June and affected employees will receive written notice at least 60 days ahead of their separation date.
The Houston workforce reductions are part of BP’s larger plan to cut 4,000 jobs globally in its upstream segment in 2016, company spokesperson Jason Ryan confirmed in an email to Rigzone.
This is what is required to adapt to the protracted low oil price environment, and BP is taking the steps necessary to reduce costs and ensure we are structured to compete as efficiently as possible, Ryan said.
BP has seen many changes this year, namely its announcement to cut thousands of jobs globally through 2017 as well as realigning its senior executives – which includes the company’s former upstream chief executive assuming the position of Deputy Group Chief Executive.
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