BP Amoco Will Cut About 2,500 Jobs

BP Amoco said it began a restructuring that includes cutting nearly 2,500 jobs in Texas, Alaska and Canada and closing offices in New Orleans and Denver. The Denver and New Orleans offices employ 660 people. Some of those workers will transfer to Houston, a BP Amoco spokesman said. BP Amoco said it will cut 1,600 positions in Texas, 600 in Alaska and 275 in Canada. British Petroleum Co. said in August that it would cut 6,000 jobs worldwide after its $61.7-billion acquisition of Amoco Corp. As part of the restructuring, BP Amoco said Houston will become the new group’s headquarters for U.S. oil exploration. All operations in Denver and New Orleans, as well as some work now done in Tulsa, Okla., will relocate to the company’s Houston Westlake complex. BP Amoco’s American depositary receipts fell 69 cents to close at $85.31 on the NYSE.