HR roles will be affected at BP, after the oil giant announced it would cut 5,000 jobs, including 1,500 in the UK.
It follows a 22% slump in annual profits, announced yesterday by Tony Hayward, the new chief executive. Hayward said that the drive to close the “performance gap” would include “fewer layers of management and a smaller corporate infrastructure” and to simplify the group into two divisions.
A spokesperson for BP told Personnel Today that job losses would be incurred by management posts throughout the business. “Some HR roles may be affected along with other functions as opposed to front-line posts in the operational businesses.
A reduction in corporate overheads is the aim in order to address the cost inflation across the oil industry. General industry inflation is running at 10%, while BP is managing the impact down to 8%,” he said.