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Article: FOR THE RECORD.
- Article from:
- Crain's Chicago Business
- Article date:
- February 8, 1999
- Author:
CopyrightCOPYRIGHT 1999 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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BP Amoco cuts 1,500 in Chicago
Industry analysts had expected that British Petroleum Co. plc's acquisition of Amoco Corp. would spell big cuts at the Chicago company's headquarters, and last week they were proven right (Crain's, Dec. 7).
The newly combined BP Amoco Corp. said it will cut 1,500 jobs -- mainly at Amoco's downtown Chicago offices -- over the next 18 months. That's roughly one-fourth of Amoco's Chicago-area workforce.
The London-based company said continuing weakness in oil prices forced the move. At the time of the merger announcement, BP Amoco executives predicted the deal would result in approximately 6,000 job cuts worldwide.