The chief executive of BP executive plans to cut his management team to cut the company's costs.
Tony Hayward said he plans to address industry-lagging profitability by slashing management layers, adopting consistent procedures for developing oil and gas fields and reducing "unacceptably high'' costs.
Mr Hayward said the plan was the result of a six-month review started when he took over in May, although analysts said it left BP's decentralised ``hub and spoke'' business model intact.
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BP's Management Staff Too Expensive for the Company
The chief executive of BP executive plans to cut his management team to cut the company's costs