BP to slash 5% of staff in 2025, part of $2B cost-cutting plan

What’s going on at BP?

BP plans to eliminate more than five per cent of its global workforce in 2025.

According to an internal memo seen by Reuters, approximately 4,700 employees and 3,000 contractor positions will be axed.

“We have got more we need to do through this year, next year and beyond, but we are making strong progress as we position BP to grow as a simpler, more focused, higher-value company,” CEO Murray Auchincloss said in the memo.

The workforce reduction is part of the energy giant’s effort to cut costs by at least $2 billion by the end of 2026.

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Impact on Canadian staff

It remains unclear if any Canadian employees or contractors at BP are affected by the workforce reduction.

According to LinkedIn, the company has more than 430 workers in the country.

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Next steps for BP Canada employees

If you’re fired or let go at BP, understanding your legal rights is crucial.

Non-unionized employees in Canada’s energy industry are entitled to severance pay. The amount you’re owed is based on a variety of factors, including your role, tenure, age, and ability to find similar work.

Here’s what you need to know:

• Compensation: Severance packages, which can be as much as 24 months’ pay, may include salary, bonuses, commissions, and other forms of compensation. Use our firm’s free Severance Pay Calculator to better understand your entitlements.
• Deadlines: You generally have up to two years from the date of your termination to review and negotiate severance offers.
• Action steps: Consult an employment lawyer at Samfiru Tumarkin LLP to ensure your severance package is fair and aligns with Canadian employment laws.

New year, more job cuts

The job cuts at BP come after many major employers scaled back their staffing levels in 2024.

Big names, including Google, RBC, Cargill, Vale, Windsor University, Mohawk College, Sheridan College, Marriott, Bosch, Schaeffler, Rogers, General Motors, and AMD, pulled out the axe last year.

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• Salesforce to cut jobs at ‘Own’ following $2-billion acquisition
• Amazon Layoffs: Nearly 14,000 managers could be axed to cut costs
• Where are layoffs happening in Canada?
• Pocket Employment Lawyer: Real-time insights on your rights

Lost your job? Contact us

If you’re fired or let go at BP for any reason, the experienced employment law team at Samfiru Tumarkin LLP can help.

Our lawyers in Ontario, Alberta, and British Columbia have helped tens of thousands of non-unionized individuals resolve their workplace issues.

Call us today at 1-855-821-5900 or request a consultation online.

Disclaimer: The materials above are provided as general information about the rights of non-unionized employees in Canada. It is not specific to any one company and SHOULD NOT be read as suggesting any improper conduct on the part of any specific employer, or a relationship between Samfiru Tumarkin LLP and a specific employer.