Investing.com — London-based energy giant BP (NYSE:) Plc announced on Thursday plans to cut 4,700 internal positions and 3,000 contractor jobs. The move is part of the company’s strategy to reduce costs, according to Bloomberg. Chief Executive Officer Murray Auchincloss communicated this decision to the staff in an email, which was also shared with Bloomberg.

In his message, Auchincloss acknowledged the uncertainty that this decision could bring to those whose jobs may be at risk. He also recognized the potential impact on fellow staff members and teams. He urged employees to continue supporting each other, remain considerate, and prioritize safety, especially during times of change.

The company has not provided further details about the job cuts or the timeline for their implementation.

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