BP told Business Insider it plans to cut 4,700 staff and 3,000 contractors, amounting to about 5% of its global workforce.

The cuts are part of a program to "simplify and focus" BP that began last year.

"We are strengthening our competitiveness and building in resilience as we lower our costs, drive performance improvement and play to our distinctive capabilities," the company said.

Meta CEO Mark Zuckerberg recently told staff he "decided to raise the bar on performance management" and will act quickly to "move out low-performers," according to an internal memo seen by BI.

In a post on the company's internal communications platform, he said Meta will make "more extensive performance-based cuts" in this year's performance review cycle. Impacted US employees will be notified on February 10, he wrote.

The company has laid off more than 21,000 workers since 2022.

BlackRock told employees it was planning to cut about 200 people of its 21,000-strong workforce, according to Bloomberg.

The reductions are more than offset by some 3,750 workers who were added last year and another 2,000 expected to be added in 2025.

BlackRock's president, Rob Kapito, and its chief operating officer, Rob Goldstein, said the cuts would help realign the firm's resources with its strategy, Bloomberg reported.

Bridgewater Associates cut 7% of its staff in January in an effort to stay lean, a person familiar with the matter told Business Insider.

The layoffs at the world's largest hedge fund bring its head count back to where it was in 2023, the person said.

The company's founder, Ray Dalio, said in a 2019 interview that about 30% of new employees were leaving the firm within 18 months.

The Washington Post is eliminating less than 100 employees in an effort to cut costs, Reuters reported in January.

A spokesperson told the wire service that the changes would occur across multiple areas of the business and indicated that the cuts wouldn't affect the newsroom.

"The Washington Post is continuing its transformation to meet the needs of the industry, build a more sustainable future and reach audiences where they are," the spokesperson said, according to Reuters.

Microsoft is planning job cuts soon, and the company is taking a harder look at underperforming employees as part of the reductions, according to two people familiar with the plans.

A Microsoft spokesperson confirmed cuts but declined to share details on the number of employees being let go.

"At Microsoft we focus on high performance talent," the spokesperson said. "We are always working on helping people learn and grow. When people are not performing, we take the appropriate action."

The digital-financial-services company Ally is laying off roughly 500 of its 11,000 employees, a spokesperson confirmed to BI.

"As we continue to right-size our company, we made the difficult decision to selectively reduce our workforce in some areas, while continuing to hire in our other areas of our business," the spokesperson said.

The spokesperson also said the company was offering severance, out-placement support, and the opportunity to apply for openings at Ally.

Ally made a similar level of cuts in October 2023, the Charlotte Observer reported.

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