BP to Cut 10,000 Jobs Because of Oil Price Crash

BP to Cut 10,000 Jobs Because of Oil Price Crash
The BP logo is pictured at a petrol station in central London on Feb. 1, 2011. Ben Stansall/AFP via Getty Images
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BP is cutting 10,000 jobs as it reels from a crash in oil prices and tries to pivot toward renewable energy.

CEO Bernard Looney told employees on June 8 that the oil giant would reduce its global workforce by nearly 15 percent this year. Most of the cuts will affect office jobs.