BP plc revealed Monday that it plans to cut nearly 10,000 jobs, with most affected individuals leaving the company by the end of this year. The planned workforce reduction amounts to an approximately 14-percent decrease in headcount for the supermajor, whose website states that it operates in 79 countries and employs 70,100 people. In a note to employees, BP CEO Bernard Looney stated the majority of people affected by the cuts work in office-based roles. "We are protecting the frontline of the company and, as always, prioritizing safe and reliable operations," Looney commented. BP had introduced a three-month freeze on redundancies back in March as the COVID-19 pandemic ravaged the oil market. Looney pointed out the move was an effort to allay some immediate concerns among the workforce. "That moratorium ends today," the CEO stated Monday. He explained that oil prices have fallen "well below" the level where the company can turn a profit.