BP is cutting 700 "non-frontline" jobs as part of a plan to simplify its organization and boost returns. The job cuts will affect positions in the upstream division but not operational roles. Gordon Birrell, BP’s executive vice-president for upstream, stated the changes would result in a flatter corporate structure, with senior leadership roles decreasing by over 20 percent.

An internal email cited global market signals pointing to "potential oversupply and lower oil and gas prices," necessitating BP to be "competitive at the bottom of the cycle." This warning comes despite rising crude prices due to supply disruptions from the Iran war. Chief executive Meg O’Neill aims to restructure BP into two main divisions: upstream (oil and gas production) and downstream (refineries and retail).

O’Neill has also increased the company’s cost-saving target to $6.5bn-$7.5bn by the end of 2027, compared to 2023. The organizational changes are designed to clarify accountabilities and decision-making, with implementation timelines varying by country. These cuts follow a tumultuous start to O’Neill's tenure, including the dismissal of chairman Albert Manifold.