British energy giant BP announced plans to axe “close to 10,000” jobs, or almost 15 per cent of its global workforce, after the coronavirus pandemic slashed demand for oil, AFP reported.

“We will now begin a process that will see close to 10,000 people leaving BP — most by the end of this year,” chief executive Bernard Looney said in an email to its 70,000 staff seen by media.

He went on to say that oil prices had plunged “well below the level” the group needed “to turn a profit".