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BP to slash 4,000 jobs in face of oil downturn

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British oil and gas company BP announced plans today to slash 5 percent of its global workforce in the face of a continued slump in oil prices.

The company said it would reduce its headcount by at least 4,000 as it undergoes a $3.5 billion restructuring program.

At the end of 2015, the company had 80,000 employees, according to Reuters.

Read more from Reuters.

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