Why is BP laying off people?

BP is laying off thousands of employees and contractors in 2025-2026 to cut costs by $2 billion, streamline operations, and boost investor returns, reports say. The company is shifting focus back to traditional oil and gas, reducing its green energy commitments, and dealing with pressure from investors to improve financial performance.

Why is BP laying off?

BP Cutting More Than 6,000 Jobs, and Thousands of Contractors, as Part of Cost Reductions. Global energy giant BP said it would cut thousands more jobs by the end of this year, as the company continues to reduce its renewable energy plans to focus more on its longtime core business of oil and gas production.

Why is BP laying off employees?

Tariff-Related Margin Pressure Leads HPE To Lay Off 2,500. Hewlett Packard Enterprise (HPE) plans to lay off approximately 2,500 employees, representing about 5% of its global workforce, as its server business grapples with margin pressures following U.S. tariffs on Mexico and Canada.

Is BP downsizing?

BP to cut 15% of its corporate jobs by the end of 2025. The company will slash about 6,200 positions, adding to the thousands of layoffs this year that have come from within BP's customers and products segment, which includes its global c-store business.

Why are BP shares falling?

BP's stock is low due to weaker oil and gas prices, significant impairments and write-downs in its lower-return gas and low-carbon businesses, a strategic pivot back to higher-profit fossil fuels causing investor uncertainty, global energy market pressures, and ongoing challenges with its large-scale energy transition investments, despite efforts to reduce debt and increase fossil fuel returns. 

Andy Burnham's bid to return as MP blocked by Labour's NEC

Is BP in trouble?

The energy giant has been weakened by years of mishaps and poor decisions, leading to rumors of a takeover that may not subside. For months, speculation has been building that the London energy giant BP could be acquired by a competitor.

Does BP have a future?

The bottom line. BP is uniquely poised at the crossroads of legacy oil strength and strategic reinvention, making it one of the most watched FTSE 100 energy names going into 2026. For investors looking for exposure to UK oil and gas, it looks like a top stock to consider in 2026.

Is BP at risk of takeover?

BP is an obvious takeover target in the oil and gas sector due to its relatively cheaper valuation versus peers, a muddled strategy that has seen the business lose its way, and the presence of an activist investor pushing for change. It looks like a sitting duck.

Who typically gets laid off first?

Nonessential teams or high-cost departments may be targeted first. But in today's world, almost any function can be outsourced. Sales and marketing jobs often survive longer because they bring in revenue. Research and development is also protected from any layoffs, since it supports long-term growth.

Is oil and gas a dying industry?

The Quiet Retreat: Why the oil and gas industry is implementing its own decline, even as the IEA resurrects an old growth scenario. Political pressure may be forcing the IEA to revive an old forecast of endless fossil fuel growth, but oil and gas investment reality tells a clearer story of an industry embracing decline ...

Why is Shell buying BP?

One of the biggest boosts for Shell would be BP's significant trading business for refined products, and especially LNG. Shell is already the world's largest LNG portfolio player, with 68 million tonnes per annum. According to S&P Global, BP has a portfolio that could deliver 30 million tonnes per annum of LNG by 2030.

What is BP's severance package like?

Expected 2025 BP Severance Terms

Executive Packages: Senior leaders typically receive 12 to 14 months of base pay plus bonus and equity considerations. These packages often include accelerated vesting of certain equity awards and pro-rated performance bonuses.

Could BP go bust?

This fall from grace could amount to an existential risk for the 120-year-old company. Industry commentators have pointed out that BP is arguably now worth less than the sum of its parts, meaning the company could be a prime takeover target for a rival with deep enough pockets.

Is BP in decline?

BP's net income fell to $8.9bn (£7.2bn) in 2024, down from $13.8bn the previous year. It said lower oil and gas prices, plus lower profits from its refineries, had dented how much money it had made.

Is BP a good company to work for?

Is bp a good company to work for? bp has an overall rating of 3.7 out of 5, based on over 8,626 reviews left anonymously by employees. This rating has decreased by 3% over the last 12 months. 60% of employees would recommend working at bp to a friend and 48% have a positive outlook for the business.

Are BP shares going to recover?

However, analysts forecast that BP's annual dividend return will rise to 5.9% this year and 6.2% in 2027. Both its rise in share price and dividends are predicated on consensus analysts' forecasts for 25% annual earnings growth to end-2028 from BP.

Does BP support LGBT?

BP Pride is bp's ERG for LGBTQ+ people and is active across the world. They work with bp's other ERGS to promote all diversities and intersectionalities, even in those regions that are not accepting or where being LGBTQ+ is illegal.

Why have BP shares dropped so much?

The BP (LSE: BP.) share price has fallen back since its highs of 2023, though it's still up 62% in the past five years. The stock has faced mixed fortunes, with the latest drag, falling oil prices — Brent Crude fetches not much more than $60 per barrel as we reach the end of 2025.