Confirming the job losses, the FTSE 100 company said the reduction in its workforce was down to cost cutting measures.

UK energy giant BP said it will cut more than 5% of its global workforce, as the company continues a plan to reduce costs as it transitions to more

BP Plc is cutting 4,700 positions internally and 3,000 contractor jobs, Chief Executive Officer Murray Auchincloss told staff on Thursday, as the London-based energy giant seeks to reduce costs.

U.K.-based oil company is cutting 4,700 jobs worldwide and a further 3,000 contractor roles as part of a cost-saving drive

London-based energy firm BP plan to cut its global workforce by just over five per cent, resulting in 4,700 job losses. The oil giant will also remove 3,000 contractor positions, reports Reuters, having seen an internal memo letting staff know of the upcoming changes.

BP is planning to cut more than 5% of its 90,000-strong workforce as part of a cost-cutting drive. The British oil giant told employees in a memo Thursday that it would slash around 4,700 jobs this year.

BP is cutting 4,700 jobs and 3,000 contractor roles as part of a drive to "simplify and focus" the oil giant, it said on Thursday.

BP to axe 4,700 jobs globally amid cost-cutting drive - The oil giant, which announced the cuts in a staff memo, has about 90,000 workers globally and 14,000 in the UK.