BP Says It's Cutting 10,000 Jobs Due To The Pandemic

The video discusses the impact of the pandemic on the oil industry, focusing on BP's response. CEO Bernard Looney announced a 15% reduction in BP's global workforce, primarily affecting office jobs and senior positions. The company is also implementing a pay freeze for senior leaders and is unlikely to offer cash bonuses. BP plans to cut capital expenditures by 25% and aims to restructure to achieve net zero emissions by 2050.

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