(Updates to add BP's statement)
BP (BP.L) is proposing job cuts in a bid to reduce complexity and enhance accountability, a company spokesperson toldon Thursday.
"We are building a simpler, stronger, more valuable bp. As part of this process, we are proposing changes that would result in a reduction in roles," according to the oil giant.
Reuters earlier reported, citing an internal email it saw, that BP plans to cut 700 jobs globally, or 8% of its 8,500 non-frontline workforce, which were historically part of its production and operations business. The changes are reportedly not expected to have any material impact on frontline positions.