Petroleum giant British Petroleum will cut 4,700 jobs this year in a cost cutting measure, the company announced Thursday. That amounts to about 5% of its total workforce.

BP employs about 16,000 people in the UK, of which about 6,000 are based in petrol and service stations, and will not be ...

BP is to cut nearly 8,000 jobs in the face of falling profits and rising shareholder concern over its green energy policies.