re: Exxon's profit tumbles 58 percent, says it will cut expenditures by one-quarter

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Anadarko runs lean and some employees claim to be a little overworked; however, they all recognize that it helps alleviate quick layoffs. Many there are hopeful they will make it through.

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BP makes record loss and axes 7,000 jobs


BP is to axe another 7,000 jobs after reporting an annual loss of $6.5bn, the worst in its history.

Shares in the oil company dived 8.6% to 335p by the end of trading on Tuesday, wiping almost £6bn off the stock market value of the business, and helped drag down the wider FTSE 100 index of leading shares in London.

The poor financial performance of BP, followed by a 68% fall in quarterly profits from rival Exxon Mobil in the US and further weakness in the price of crude, depressed stock markets on both sides of the Atlantic on Tuesday. The FTSE 100 finished the day down 2.2% at 5922.01 points, while in New York, the Dow Jones fell more than 230 points, or 1.4%, in early trading.

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