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April 28, 2020

BP commits to no layoffs for three months

By Matthew Farmer

In its first quarter results announcement, oil and gas company BP has said it will not make any layoffs for the next three months.

CEO Bernard Looney said it had been a tough first quarter, forming the “perfect storm” which the company is adapting to. Upstream CFO Murray Auchincloss announced the company would continue with its divestments, and has a strong balance sheet. However, it has revised its annual earnings expectations.

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