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British energy titan BP (NYSE: BP) unveiled a significant restructuring plan on Thursday, announcing the elimination of ...

British energy giant BP on Thursday said it would axe 4,700 staff jobs, or about five percent of its workforce, and is cutting thousands of contractor roles to reduce costs.

The company's ADS shares are 6:1 with British shares, which means its BP shares pay $0.48/share/quarter. That's a 6.4% dividend yield, and the company can afford it at ~$40/barrel breakeven.