BP posts $6.3 billion loss, warns of more layoffs ahead

HOUSTON — The CEO of BP says the ongoing oil slump and other pressures are prompting it to cut deeper in places like Houston and Aberdeen, with its restructuring charges related to layoffs climbing to about $1.5 billion by the end of the year. That’s up from its December estimation of $1 billion.

“We will continue to identify more opportunities for simplification and efficiency,” and the rise in restructuring charges “reflects a faster pace” of cost-cutting across the company, BP CEO Bob Dudley told investors in a conference call Tuesday.

“There are further gains (to be made), we’re sort of well […]