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BP will 'cut more jobs' despite bumper profits

BP will 'cut more jobs' despite bumper profits
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Oil giant BP has announced it will axe more jobs despite surging profits.

The firm's chief executive Tony Hayward has said he expects the total of number of jobs to be going to be higher than 5,000 previously spoken of, reports AFP.

On Tuesday (October 28th), BP said third-quarter net profits had increased by 83 per cent to £5.16 billion.

BP has been criticised for making massive profits and not passing them on to customers.

George Osbourne, the shadow chancellor, said it would be "a scandal" if the company did lower the price of fuel for its customers.

Meanwhile, Tony Woodley, joint general secretary of Unite, commented: "While the poor and vulnerable cannot make ends meet or heat their homes, the greedy oil companies are banking money faster than they can count it."

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