Energy giant BP has announced it plans to slash its workforce by almost 5,000 as part of a major plan to cut costs.
The company is to lose approximately 4,700 roles, equating to more than 5% of its 90,000-strong worldwide workforce.
The BBC reports that an email to BP staff also confirmed around 3,000 contractor positions will be axed.
While the news will be of concern to BP's 16,000 staff in the UK, the cuts will not affect its 6,000 employees in petrol and service stations across the country.
Chief executive Murray Auchincloss last year announced a target cost reduction of £1.6billion by the end of next year.
In the email to BP staff, he said: "We have got more we need to do through this year, next year and beyond, but we are making strong progress as we position BP to grow as a simpler, more focused, higher-value company."
He also acknowledged "the uncertainty this brings for everyone whose job may be at risk, and also the effect it can have on colleagues and teams".
The BBC understands the cuts will be applied to those in office-based jobs rather than operational roles.