BP plans to cut 700 jobs as part of a broader restructuring initiative led by its new chief executive, Meg O’Neill. The reductions will primarily affect roles within the company’s upstream division, responsible for the discovery and extraction of crude oil, while frontline positions such as technicians are expected to remain unchanged. The company has communicated these changes to staff as part of efforts to simplify its operations and enhance financial returns.

The decision follows ongoing challenges at BP, including a costly shift toward renewable energy beginning in 2020, which has prompted the company to recalibrate its strategic focus. O’Neill, who took over as CEO in April, aims to guide BP back toward a stronger emphasis on fossil fuels and streamline the organization’s structure. She described the overhaul as a means to create a “simpler, stronger, more valuable” company by reducing complexity and improving accountability.

BP currently employs approximately 93,700 staff worldwide, a figure that has declined in recent years amid workforce reductions. In 2025 alone, the company announced approximately 4,700 job cuts along with the elimination of 3,000 contractor positions. The latest round of cuts is expected to take place within the upstream division, formerly known as the production and operations unit, which has been renamed as part of the company’s reorganization.

While BP is anticipated to report a significant increase in second-quarter profits—expected to reach about $5.1 billion, more than double the amount from the same period last year—executives caution about future market conditions. Gordon Birrell, head of upstream operations, cited signs of “potential oversupply and lower oil and gas prices” as factors influencing the company’s decision to reduce its workforce.

The shake-up at BP has come amid internal leadership changes and pressure from investors. Former CEO Murray Auchincloss departed after less than two years in the role, and chairman Albert Manifold was removed in May following allegations of bullying, which he denies. These developments have coincided with mounting calls for BP to demonstrate stronger financial performance and operational discipline.

BP stated that the proposed staff reductions are designed to support long-term business performance by fostering a more streamlined and accountable organizational structure. The company emphasized its commitment to balancing operational efficiency with ongoing adaptation to shifting energy markets.