Arab Today, arab today bp announces global pay freeze as oil slump bites
Last Updated : GMT 16:02:07
Arab Today, arab today
Arab Today, arab today

BP announces global pay freeze as oil slump bites

Arab Today, arab today

Arab Today, arab today BP announces global pay freeze as oil slump bites

BP chief executive Bob Dudley
London - AFP

Energy giant BP said Tuesday it was freezing global salaries following a sharp drop in oil prices, less than a fortnight after announcing 300 job cuts in the North Sea.
"We informed staff throughout BP that we intend to freeze base pay across the company for 2015, with only a select few necessary exceptions," a spokesman told AFP.
"We see this as a prudent response to the currently challenging market environment in which we are operating," he added, in reference to a slump of more than 50 percent in global oil prices since June.
The pay freeze was relayed to staff in an email from BP chief executive Bob Dudley on Monday.
In December, BP took a restructuring charge totalling about $1.0 billion (800 million euros) in a company-wide overhaul of the business.
As part of that plan, BP announced earlier this month that it was shedding 200 staff jobs and 100 contractors, all of them onshore, at its North Sea operations.
Speaking to the BBC last week from the World Economic Forum in Davos, Dudley said his company must face the possibility that oil prices will stay low for some time.
"Companies like us, at BP, we're going to need to rebase the company based on no guarantees at all that the price will come back up," he said.
"We have got to plan on this [price] being down, and we don't know exactly what level, but certainly a year, I think probably two and maybe three years."

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today bp announces global pay freeze as oil slump bites Arab Today, arab today bp announces global pay freeze as oil slump bites

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today bp announces global pay freeze as oil slump bites Arab Today, arab today bp announces global pay freeze as oil slump bites

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Girl barred from Malaysia chess competition

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday