BP plc (BP) , the British oil and gas giant, has announced job cuts to reduce its global workforce as part of its cost-cutting initiatives to restore investors’ confidence in the energy stock. The company will reduce its global staff by 5%, including almost 4,700 employees and 3,000 contractor positions. Per Reuters, the job cuts were announced in an internal memo.BP’s CEO Auchincloss has mentioned that the company aims to reduce costs by at least $2 billion by the end of 2026. Auchincloss also mentioned th ...