BP chief executive Bernard Looney and the supermajor’s chairman Helge Lund have given 20% of their salaries to mental health charities that help those whose conditions have been amplified by the ongoing coronavirus pandemic.
Looney said 20% of both his and Lund’s salaries for the rest of this year will go to mental health charities that specialize in helping people cope. “Within BP, like so many companies, colleagues are selflessly giving their time, money or skills to fight the virus,” Looney said. New BP executive Looney officially took over the helm of the company in February on an annual base salary of £1.3 million (USD $1.6 million).
Earlier this month, BP slashed its budget for the year by 25% and lowered its production guidance in response to the Covid-19 pandemic and ongoing market disruption, while reassuring employees no job cuts will be made in the next three months.
The company also said it continues to review potential first-quarter impairment charges and currently expects to take a non-cash, non-operating charge of around $1 billion in the three-month period.
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