BP to Cut 3% of Jobs in Upstream Business

British oil giant BP Plc plans to cut 3 percent of jobs in its exploration and production as part of a restructuring of its upstream operations to make the division more efficient and flexible, The Financial Times reported on Tuesday.

The oil major would cut about 540 jobs from its 18,000-strong upstream workforce over the course of this year, the report said. 

Reporting By Justin George Varghese in Bengaluru