British oil giant lays off 10,000 people!

Another global oil giant can't bear it, and it's going to layoffs! Following Chevron, the second largest oil company in the United States, announced layoffs of 4500-6000 people, BP wants to lay off 10,000 people. BP announced on the 8th that in order to deal with the impact of the new crown epidemic on companies, it will lay off about 15% of its employees.

Corporate CEO Bernard Luni announced the decision in a global video conference, saying that about 10,000 of the more than 70,000 employees will leave, "We will now start this process, most of this year Leave before the end." Reuters reported that some of the people attending the meeting were the sources. The layoffs of the oil giant mainly affected managers, not front-line business personnel.

In addition, the participants said that Luni intends to lead the enterprise to "transform" to low-carbon energy, and layoffs will make the enterprise more flexible. Luni said at the meeting that BP has always wanted to be a "more streamlined, faster and lower carbon emissions" company.

As the new crown epidemic has led to a significant reduction in global oil demand, BP announced in April that it intends to reduce expenditures by 2020 by 25%. The company also intends to reduce the US$2.5 billion in spending by the end of 2021 through the digitization and integration of its business.

According to the British "Financial Times" report, before BP announced this latest news, last month also announced that senior management will be halved. In addition to BP, US Chevron Petroleum also announced about 10% to 15% of global job cuts last month. Currently, Chevron has about 45,000 employees, which means that the company's layoffs will reach 4500-6750 in this round.

Anglo-Dutch Shell Petroleum Company initiated the voluntary departure of employees in the same month. On May 27, the International Energy Agency (IEA) released the annual "Global Energy Investment Report" that pointed out that the new crown epidemic will hit investment in the global energy sector, and the scale and speed of the decline are shocking.

The IEA "Report" predicts that investment in the energy sector will fall by $400 billion year-on-year this year, a decrease of about 20%, which will be the largest decline in history. The International Energy Agency said that global energy investment in 2020 is expected to be slightly higher than 1.5 trillion US dollars, lower than 2019's 1.9 trillion US dollars.

The decrease in oil expenditure is the main reason for the decline in global energy investment. Global consumer spending in the oil sector will be lower than the power industry for the first time in history. The IEA predicts that investment in the global oil and gas industry will decline by about one-third year-on-year this year. The shale industry will be even worse, with investment falling by about 50% year-on-year.