With 40% reduction in liquid production by 2030 headcount will reduce by the same amount?
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There will be more layoffs, quite possibly by end of next year. After 27 years of constant complaining that employees are their single biggest costs and all of the "guided distributions" and PIP as passive threats, I know they will come through with another round. One year after I joined, I experienced my first round and I was naive to believe that we'll pull through this. Then it was only six months later that they needed to "right size" the organization. My recommendation is for you to start looking at other opportunities and plan to get out. I left in 2016 and it was a tremendous blessing. I'm working in the same field and I can't be happier. There is a lot more life outside of BP. This organization can forget about recruiting. They might think that they don't need to and that others will flock to them. Forget it. If I ever get asked, I will tell them to stay far away from BP. Its culture s—s. It matters not what you're hired to do, but if you don't speak finance terms constantly and how you can turn lead to gold, you'll be on your way out.
BP headcount in 2012 86,400
BP headcount on December 31, 2019 was 70,100.
Whys is BP only cutting 10,000 people it should be at least 3 times that number. BP is no longer like the civil service/public sector and cannot afford the corresponding high staffing levels, especially if it wants to attract top new energy transition talent.
How about rightsizing the business Mr. Looney?
BP profits come from trading oil and gas.
Vitol traded 351 million tonnes of crude oil and product and over over 20 billion cubic meters of physical gas globally in 2018 with headcount of 1,365. They also have a net zero project in North-East England . Vitol is invested in 400,000 b/d of refining capacity. You don't need many people to run an oil trading company, BP currently has at least 35,000 too many.
If blue hydrogen is not the solution then why does BP need any G&G personnel?
No it will obviously be more than 40% as you don't need exploration and drilling any more and productivity can be improved in repeat processes associated with enhancing recovery and production in existing wells and reservoirs.
E&P costs has a lot of room for huge cuts in order to generate funds to recruit for the energy transition and employing more clever people from McKinsey to guide BP strategy.
It is tough to say. My guess is they are trying to account for that with natural loss of retention. Ie not filling positions with retirements or resignations. Those that can be moved to the new green divisions will. That being said, this new strategy will only last as long as the current bear oil market.