UK-based oil giant BP, is reportedly planning to cut hundreds of jobs in Houston as part of its round of layoffs announced earlier this year.
Houston Business Journal reported, citing a letter the company sent to the Texas Workforce Commission, that BP would cut at least 500 jobs in Harris County this year with many of the cuts to occur in early June at three locations in Houston.
The business journal also informed that these cuts were part of a round announced by the oil major in January this year.
In an e-mail to Houston Energy Insider, BP’s spokesperson confirmed that Houston job cuts were part of BP’s previously announced global plan to reduce its workforce in the Upstream segment by 4,000 positions.
As a response to a prolonged low oil price environment, many oil companies were forced to reduce costs by, among other things, reducing its workforce and BP, like many of its peers, was no exception.
The spokesperson added: “But this is what is required to adapt to the protracted low oil price environment, and BP is taking the steps necessary to reduce costs and ensure we are structured to compete as efficiently as possible.”