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7

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

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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