(bpTT, 16.Dec.2020) — In February 2020, we launched our new purpose: to reimagine energy for people and our planet and also announced a bold new ambition: to become a net zero (GHG emission) company by 2050 or sooner, and to help the world get to net zero.
On 8 June 2020, bp announced a global restructuring in service of achieving our new purpose and ambition. This restructuring exercise, the largest in our history, was undertaken to create a more focused, leaner and better integrated energy company. We can confirm that the restructuring of the Trinidad business has largely been completed and we have begun to transition to bp’s new operating model, based on a higher degree of centralization and agile ways of working.
Our frontline staff were not in scope for the exercise, however the staffing level for office-based roles was reduced globally by approximately 25%. This reduction was achieved in two phases. During the first phase, which took place in September 2020, employees were allowed to express their interest to leave the company on a voluntary basis. During the second phase, which took place between October and November, employees were selected into roles in the newly designed organisation and unplaced staff were informed of their involuntary separation.
We have completed the process of notifying employees of the outcome of the restructuring. As a result of this exercise, 149 employees will exit bp’s Trinidad business on a voluntary or involuntary basis. The majority of exits will occur in January 2021.
We are deeply saddened that we are unable to take all of our employees with us on our journey as we reinvent bp. The global environment and the changing energy demands have required us to make fundamental changes to how we are structured and to our operating model and sadly, that means we will be saying farewell to some of our colleagues and friends. We are committed to treating our employees who are leaving with the utmost respect, care and dignity throughout the process and are doing all that we can to prepare them as they leave our company. We are also providing ongoing support to all staff through our employee assistance programme.
While we will say farewell to some of our employees, this process has created new opportunities for many of our nationals who will now be assuming new roles in bp.
Approximately 47 employees have been assigned to roles that support operations outside of Trinidad and Tobago. Some of those roles will be based in Trinidad and some will be international assignments. This is a testament to the quality of the talent that has been nurtured and developed in bpTT.
These organisational changes will not affect any of our already sanctioned projects and activities in Trinidad. Those projects will continue as planned as we remain committed to developing our gas resources, while at the same time progressing opportunities to decarbonize gas value chains and develop new, low-carbon businesses, in service of bp’s new purpose and ambition.
bpTT remains committed to the development of our people and to contributing to the broader development of Trinidad and Tobago.