Internal restructuring
Location of affected unit(s)
UK; U.S; Europe; rest of world
Mining / Quarrying
Mining And Quarrying
Extraction Of Crude Petroleum And Natural Gas
06 - Extraction of crude petroleum and natural gas

5,000 jobs
Number of planned job losses
Job loss
Announcement Date
5 February 2008
Employment effect (start)
Foreseen end date


British Petroleum (BP), the multi-national producer of oil, has announced that it is to cut approximately 5,000 jobs at locations across the world. The announcement of the restructuring programme follows a decline in the group’s profits in the fourth quarter of 2007, and the job losses are intended to improve the competitiveness of the group. According to BP Chief Executive Tony Hayward, 30 per cent of the job losses will be in the UK, 30 per cent in the U.S., 20 per cent in Europe, and 10 per cent in the rest of the world. As of February 2008, it is unknown when the job losses will be implemented by and the precise locations that they will affect. BP employs 115,000 globally.


  • 6 February 2008: The Financial Times
  • 5 February 2008: BBC News


Eurofound (2008), BP, Internal restructuring in World, factsheet number 66272, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/66272.