BP gave a bleak outlook. Now it’s reportedly slashing jobs. - MarketWatch
1. BP is cutting 4,700 staff and 3,000 contractor jobs. 2. Shares rose 2% amid ongoing cost-cutting efforts. 3. A $2 billion writedown is anticipated due to low production. 4. Oil prices and trading activity have weakened recently. 5. Shifts towards greener fields have spurred investor concerns.