BP to cut 10,000 jobs worldwide as pandemic slams oil and gas industry
Source: Associated Press, via Anchorage Daily News
Energy
BP to cut 10,000 jobs worldwide as pandemic slams oil and gas industry
pencil Author: Danica Kirka, Associated Press clock Updated: 24 minutes ago calendar Published 1 hour ago
LONDON — Energy producer BP announced Monday that it will slash its global workforce by 10,000 jobs as the COVID-19 pandemic slams the oil and gas industry.
Chief Executive Bernard Looney said that the cuts will affect office-based roles in BP's global workforce of 70,000 people and come mostly this year. The changes are expected to significantly affect senior levels, cutting the number of group leaders by a third.
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The job cuts come at a time of tremendous change for London-based BP. It had already embarked on a restructuring plan to ensure its long-term viability as the world decreases its reliance on fossil fuels in an effort to fight climate change. BP wants to eliminate or offset all carbon emissions from its operations and the oil and gas it sells to customers by 2050, an ambitious target.
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The wider energy industry has meanwhile been hit hard by the pandemic as the widespread limits on business, travel and public life reduced the need for oil, gas and other fuels. ... Supply of oil and gas was particularly high when the outbreak began, creating a perfect storm for the industry. With storage facilities filling up, the U.S. price of oil went below zero in April for the first time ever.
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Read more: https://www.adn.com/business-economy/energy/2020/06/08/bp-to-cut-10000-jobs-worldwide-as-pandemic-slams-oil-and-gas-industry/
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The sooner it dies the horrible death that it deserves and we can start picking up the pieces from this disaster the better. Fuck coronavirus. 
