BP cuts 255 jobs in Azerbaijan, remains in region
In December, BP announced a $1 billion (0.66 billion pounds) operation to cut thousands of jobs across the globe. Oil majors have been cutting capital and operating expenditures since June when crude prices have more than halved to below $50 per barrel.
In Azerbaijan, 105 Azeri nationals and 150 foreigners would be made redundant, BP's Azerbaijan operations said in a statement. As of Jan. 1, 2014 it had 3,254 employees, including 2,760 Azeri citizens, according to its website.
BP, which is the biggest foreign investor in the ex-Soviet republic and operates major projects in its energy sector, said it was "committed to the region and to the projects that we operate".
"Our projects are moving ahead and will continue to move ahead in accordance with our plans that we have agreed with the government and co-venturers," BP said in a statement. It said it was freezing base pay across the entire group this year. ■