PracticeAccounting FirmsStaff fear worst from shake-ups at BBC and BP

Staff fear worst from shake-ups at BBC and BP

Finance staff at BP and the BBC are bracing themselves for job cuts

Top brass at both organisations have started alarm bells ringing among staff
after announcing major personnel and operational changes.

BP’s new
chief executive Tony Hayward revealed plans to reduce the oil giant’s three
departments ­ exploration and production; refining and marketing; and gas, power
and renewables ­ to two, with gas, power and renewables being axed.

All BP’s functions will go under the microscope to root out any ‘overlap’
said a spokesman. ‘The finance function will be looked at, just as every other
function will be looked at.’

More job losses will come as a bitter blow to
BBC accounting and finance
staff, as the department has already been hit with a raft of job cuts.

The BBC slashed the number of finance function posts from about 650 in
2005/06 to 310 in 2006/07, with a target of 260 in 2007/08.

The cuts came despite the BBC signing an £8.5m outsourcing finance and
accounting deal with Xansa last year, which is expected to save the corporation
£20m annually.
With the current downsizing plans already under way, sources suggested the
finance department might avoid the cull.

The broadcaster is expected to announce thousands of cuts today.

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