"BP to Cut 4,000 Jobs as Oil Prices Continue to Fall"

"LONDON — The persistent plunge in oil prices has translated into a new round of industry job cuts.

The British oil giant BP said on Tuesday it would eliminate 4,000 of the approximately 24,000 positions in its exploration and production units this year. That would be in addition to about 4,000 jobs that the company cut last year, when it trimmed its work force to about 80,000.

“We have to make sure we have a competitive and sustainable business,” David Nicholas, a company spokesman, said by telephone. “External market conditions are getting tougher.”"

Stanley Reed reports for the New York Times January 12, 2016.