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| Topic: |
Business
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| Number of pages / Number of words: |
6 / 1563 |
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Following BP's merger with Amoco in 1998, executives announced an aggressive plan to cut costs by about $4 billion by the end of 2001, double earlier projections; many managers felt this target to be overly ambitious . Even rank-in-file employees felt pressure under the mantra of cutting costs by 10% ...
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Even rank-in-file employees felt pressure under the mantra of cutting costs by 10% . Sir Browne explained that these goals aimed at a "very significant improvement in underlying performance" during a time when cost-cutting was the easiest way to boost an oil company's bottom line .
To the delight of BP's stockholders, company financial performance has increased due to these cost reductions...
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