Published on 7th December 2014
BP will shed middle managers and put projects on hold as it deals with the falling price of oil, the Sunday Times reported. Finance Director Brian Gilvary told the paper headcounts were falling across all operations and that it would cut the estimated price of oil it uses for budgeting. Gilvary said the falling oil price would not affect long-term plans but that BP had room to scrap or delay some projects "whatever the number is".