BP

Type
Internal restructuring
Country
United Kingdom
Region
Scotland;
Location of affected unit(s)
Aberdeen, Shetland Islands (Sullom Voe), Grangemouth
Sector
Mining / Quarrying
06 - Extraction of crude petroleum and natural gas
06.1 - Extraction of crude petroleum
06.10 - Extraction of crude petroleum
600 jobs
Number of planned job losses
Job loss
Announcement Date
12 January 2016
Employment effect (start)
Foreseen end date
31 December 2017

Description

Oil company BP has announced that it is to cut 600 jobs from its North Sea workforce; a cut of about 20%.  The company announced that the majority of the cuts would be implemented in 2016 with any remaining cuts to be completed by the end of 2017.  BP said that it is committed to continuing extraction in the North Sea, but has made these latest job cuts in response to the current market conditions. The restructuring in the UK is part of a larger plan to shed 4,000 jobs across the company's global workforce.

Sources

  • 12 January 2016: BBC Website

Citation

Eurofound (2016), BP, Internal restructuring in United Kingdom, factsheet number 86208, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/86208.