BP to cut 10,000 jobs, reports say

London-based energy giant BP PLC (NYSE: BP), which has its U.S. headquarters in Houston, plans to cut about 15% of its global headcount, Reuters and the Associated Press reported June 8.

Sources told Reuters that CEO Bernard Looney told employees in a global online call that about 10,000 of the company’s 70,100 positions would be cut. The cuts, most of which are expected by the end of the year, are in response to the Covid-19 pandemic and Looney’s plan to shift BP more toward renewable energy,…