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BP to cut 7,000 jobs after posting huge loss

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BP is cutting thousands of jobs after it sank to a huge loss in 2015.

The company's net loss was $5.2 billion, compared with profits of $8.1 billion in 2014.

With the results, BP announced it would cut 7,000 jobs by the end of 2017, 3,000 more than it expected to shed just three weeks ago.

Read more from CNNMoney.

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