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BP to slash 10,000 jobs due to coronavirus

The boss of UK oil giant BP has told staff it plans to cut 10,000 jobs from its global workforce just weeks after increasing the dividend it pays to shareholders. The company said the move will “significantly impact senior levels” of management in the business, with its top leadership roles to be cut by a third. It said the majority of the redundancies will be made by the end of this year, after the business took a major hit from the coronavirus pandemic. BP said the cuts are part of plans for the business to cut its operating costs by 2.5 billion dollars (£1.9 billion) for the new financial year, although the cuts “will likely have to go even further”.

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