BP to cut three percent of jobs in upstream business - FT

(Reuters) - British oil giant BP Plc <BP.L> plans to cut 3 percent of jobs in its exploration and production as part of a restructuring of its upstream operations to make the division more efficient and flexible, The Financial Times reported on Tuesday.

The oil major would cut about 540 jobs from its 18,000-strong upstream workforce over the course of this year, the report said.

(Reporting By Justin George Varghese in Bengaluru; Editing by Arun Koyyur)