BP plans to ax middle managers and could freeze projects as it grapples with the plummeting oil price. The Sunday Times first quoted finance director Brian Gilvary saying, "What you'll see with this simplification plan is that headcounts are starting to come down across all of our activities in upstream, downstream and in the corporate centers -- essentially the layers above operations." On Wednesday, BP will update on its exploration and production plans until 2010. Gilvary went on to say, "We have got flexibility to trim into next year if that's what we need in a new world of oil at $70 or $60 (a barrel)." http://yhoo.it/1qi3Lkx http://bit.ly/1fJ5yqZ
BP to Wield Jobs Ax as Oil Price Slump Takes Toll
BP plans to ax middle managers and could freeze projects as it grapples with the plummeting oil price. The Sunday Times first quoted finance director Brian Gilvary saying, "What you'll see with this simplification plan is that headcounts are starting to come down across all of our activities in upstream, downstream and in the corporate centers -- essentially the layers above operations." On Wednesday, BP will update on its exploration and production plans until 2010. Gilvary went on to say, "We have got flexibility to trim into next year if that's what we need in a new world of oil at $70 or $60 (a barrel)." http://yhoo.it/1qi3Lkx http://bit.ly/1fJ5yqZ
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