BP freezes pay globally for 2015

BP has frozen pay for its nearly 84,000 employees globally for 2015. 


It made the decision in response to changes to simplify and increase efficiency throughout BP.

It is also in response to its market environment, which has seen a significant fall in oil prices.

The pay freeze will have some exceptions for specific circumstances and will be reviewed again in 2016.

Bob Dudley, group chief executive at BP, said: “The tougher external environment in 2015 means that our businesses and functions need to work…to take a number of measures in response to the harsh trading environment [in] a $50 (£33) per barrel world.

“One of the measures we are taking across the group is a general freeze to base pay for 2015 with only a few exceptions for specific circumstances around the world.

“We will review salaries again in the normal way in 2016.”