BP's CEO gets a pay-check increase of 40%

Earlier this year, BP announced that it would cut 7000 jobs by 2017, however despite the company cutting costs over $5 billion lost in 2015, its CEO: Bob Dudley's salary seems to have increased quite a bit- by 40% at least. According to financial reports most of the increase is attributed from a $6.5 million increase in the CEO's pension savings.In 2015 Dudley earned $1.8 million and his annual bonus increased 40% to $1.4 million in 2015 from $1 million in 2014.

The company suffered major losses last year, in sharp contrast with the big profit of $8.1 billion it made in 2014. Last year, the company's shares were reported to have tumbled to a big 18.5%, with much of the decreases as a result of the Gulf of Mexico oil spill that occured in 2010.

However, the overstauration of oil in the market that has contributed to lower oil prices, has also had a massive impact in the company's market performance.Meanwhile BP commented on the issue, saying that BP executives performance in managing the crisis were admirable last year and displayed a sense of accountability.

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