Oil giant BP, will be looking at reducing its workforce amidst the worst economic impact the company has ever faced.

Covid-19 has not only reduced the need to use its product but coupled with the low oil price, has left the conglomerate in a very precarious position. It will cut 10,000 jobs across the globe, reducing its overall head count by 15%. The action will take effect end of the year with the majority of people affected will be those in the office rather than frontline operational ones.

BP also said its senior staffs will not receive any pay rise until March 2021 and the company is very likely to give out any bonuses to anyone this year. Like any other oil company, the pandemic and the plunge in oil prices has left these giants in bleeding mode, some taking in as much of billions of loses every month. CEO Bernard Looney, claims the price of oil has dipped so low that he can no longer be profitable.

In Malaysia, BP was bought over by Boustead Holdings in 2005 and subsequently re-branded to BHP, it  operates 400 stations and has no major affiliation with BP global.