Energy and convenience retail company bp plans to eliminate 700 positions worldwide as part of a restructuring of its upstream business.
The reductions will affect non-frontline roles in the company’s former production and operations segment. That business has around 8,500 non-frontline positions, with the planned cuts representing about 8% of the total, according to an internal memo reported by Reuters.
bp said the proposed changes were designed to simplify its organisation, strengthen accountability and support long-term performance. The reductions will not extend to its convenience retail operations.
The workforce changes follow a broader reorganisation announced by bp in early June. From 1 July, the company replaced its three-segment structure with two divisions, Upstream and Downstream.
The previous structure consisted of production and operations, gas and low carbon energy, and customers and products.
In August 2025, bp said its organisational transformation was expected to affect 6,200 office-based positions by the end of 2025. Most of those departures occurred during the fourth quarter.
Separate leadership changes have also taken place in the company’s convenience business. Greg Franks retired as senior vice president of mobility and convenience for the Americas, while Derek Gaskins left his role as head of guest experience.
bp had 1,708 convenience stores in the United States as of 1 January. Its retail portfolio includes ampm, Thorntons and TravelCenters of America.