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Oil major BP freezes pay in 2015 to cut costs

LONDON  – BP <BP.L> is freezing base pay across the group this year, the latest in a series of steps by oil majors to cut costs in response to sinking oil prices. Over the past year, oil majors have been selling assets to protect cash flows and shareholder dividends. Many have accelerated cuts in capital and operating expenditures, including freezing ...

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