AInvest Newsletter
Daily stocks & crypto headlines, free to your inbox
_6ff029a61766633234293.png?format=webp&width=1186&height=250)
Oil and Gas Company Layoffs in 2024 and 2025: A Global Perspective
ByAinvest
Friday, Sep 5, 2025 5:20 am ET1min read
Layoffs are expected in the global oil and gas industry in 2024 and 2025. BP, a leading oil group, has a breakdown of net sales as follows: 64% from petroleum product sales, 12.9% from natural gas sales, 1.2% from crude oil sales, and 21.9% from other activities. Export accounts for 68.9% of net sales.
The global oil and gas industry is preparing for a significant wave of layoffs in 2024 and 2025, as companies grapple with lower oil prices and a wave of mergers and acquisitions. According to Reuters, benchmark Brent crude futures have fallen in 2025, leading to job cuts across various international oil and gas companies [1].BP, a leading oil group, has announced a breakdown of its net sales for the period, with petroleum product sales contributing 64%, natural gas sales at 12.9%, crude oil sales at 1.2%, and other activities at 21.9%. Export sales account for 68.9% of BP's net sales [2].
The company has also reported challenges in its plastics division, with earnings dropping 13% year-on-year in the first half of 2025 due to subdued global demand for stretch films [3]. Torrid, a retailer, has seen a decline in net sales by 7.7% in the second quarter of 2025, with adjusted EBITDA missing analysts' expectations [4].
These developments underscore the industry's ongoing challenges and the need for strategic adjustments. Companies are expected to focus on cost-cutting measures and consolidation to navigate the volatile market conditions.
References:
[1] Reuters. (2025, September 3). Global oil and gas companies announce job cuts for 2024-2025. Retrieved from https://www.reuters.com/business/energy/global-oil-gas-company-layoffs-2024-2025-2025-09-03/
[2] AzerNEWS. (2025, September 2). BP Azerbaijan resolves crude oil quality issues at Ceyhan terminal. Retrieved from https://www.azernews.az/business/246867.html
[3] Packaging Gateway. (2025). BP Plastics sees earnings drop amid weak demand. Retrieved from https://www.packaging-gateway.com/news/bp-plastics-sees-earnings-drop-amid-weak-demand/
[4] TradingView. (2025). Torrid fiscal Q2 net sales fall 7.7%. Retrieved from https://www.tradingview.com/news/reuters.com,2025:newsml_PLX10B785:0-torrid-q2-net-sales-fall-7-7-ebitda-misses-estimates/
Ainvest News articles are AI-generated using advanced large language model (LLM) technology designed to analyze and synthesize publicly available data and news. While AI tools assist in producing initial drafts and insights, all AI generated content published on Ainvest is subject to comprehensive human editorial review before publication. A designated human editor reviews, verifies, and approves each article for factual accuracy, coherence, and compliance with AInvest Fintech Inc’s editorial and disclosure standards.
Despite these review procedures, the information provided may still contain inaccuracies, incomplete data, or time sensitive references due to the inherent limitations of AI generated analysis and evolving changes. The material is provided strictly for informational and educational purposes and does not constitute personalized investment, legal, or financial advice. Readers should independently verify all facts, figures, and statements before making any decision based on this content.
AInvest Fintech Inc. its affiliates, and partners accept no liability or responsibility for any direct or consequential losses arising from reliance on this content. All articles and analyses are subject to revision, update, or removal without prior notice to maintain accuracy and integrity in our publications.
Comments
No comments yet