- at the end of 2015, BP had 80,000 global employees
- not all those employees were upstream; the article does not say how many employees were upstream employees
- the article says the company plans to end 2016 with less than 20,000 upstream employees by cutting 4,000 employees
This is how Reuters is reported it:
British oil and gas company BP announced plans on Tuesday to slash 5 percent of its global workforce in the face of a continued slump in oil prices.
It said it aims to reduce its global oil production, or upstream, headcount by 4,000 to 20,000 as it undergoes a $3.5 billion restructuring program. BP said its headcount totaled around 80,000 at the end of 2015.And even that paragraph is not quite correct. The writer says the upstream headcount will be reduced to 20,000. In fact, the upstream headcount will be reduced to less than 20,000. Big difference.
Then this paragraph:
"We want to simplify (our) structure and reduce costs without compromising safety. Globally, we expect the headcount in upstream to be below 20,000 by the end of the year," a company spokesman said.The article's "5%" is this: 5% of 80,000 is 4,000. So, in this round of job cuts, BP will cut 5% of its total workforce, but for those working upstream, it's a lot worse: upwards of 16.7% will be cut (4,000/24,000 = 16.7%). See first comment; my original calculation, at 20%, was wrong.
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