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BP cuts North Sea jobs as oil prices slide

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BP cuts North Sea jobs as oil prices slide

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Oil giant BP has informed staff in Aberdeen that it is to shed 300 jobs at its North Sea operations.

The UK based company is to reduce its 3,500 strong workforce based in Scotland over the coming year.

The cuts come as the price of oil has halved since summer from $110 a barrel to less than $50.

BP says it will axe 200 onshore workers directly employed by the company and 100 contractors.

The announcement comes as British Energy Minister Ed Davey enters talks with oil executives over the dramatic falls in the price of black gold.