Our Terms of Service and Privacy Policy have changed.

By continuing to use this site, you are agreeing to the new Privacy Policy and Terms of Service.

BP to base bonuses on safety

By Annalyn Censky, staff reporter


NEW YORK (CNNMoney.com) -- In his latest attempt to change the culture at BP in wake of the Gulf of Mexico oil spill, new chief executive Bob Dudley told staff in an e-mail this week that their next bonuses will be based solely on how they meet safety guidelines.

BP usually determines bonuses based on how employees meet operational and financial goals, as well as safety rules, said BP spokesman Toby Odone, who confirmed the existence of the internal e-mail. It was originally reported by The Wall Street Journal.

While bonuses in the the first three quarters of the year will still be based on all the yardsticks, safety will be the only measure determing employee bonuses in the fourth quarter, he said. The change doesn't affect base salaries.

BP has withstood fierce criticism for putting profits before safety and environmental concerns, after an April explosion aboard the drilling rig Deepwater caused thousands of gallons of oil to gush into the Gulf of Mexico for months. To top of page

Index Last Change % Change
Dow 18,473.75 -19.31 -0.10%
Nasdaq 5,110.05 12.42 0.24%
S&P 500 2,169.18 0.70 0.03%
Treasuries 1.56 -0.01 -0.51%
Data as of 6:00pm ET
Company Price Change % Change
Freeport-McMoRan Inc... 12.68 0.30 2.42%
Bank of America Corp... 14.53 0.16 1.11%
Apple Inc 96.67 -0.67 -0.69%
Gilead Sciences Inc 81.05 -7.50 -8.47%
Chesapeake Energy Co... 5.35 0.21 4.09%
Data as of 4:15pm ET
Sponsors

Sections

HSBC banker arrested at JFK airport as he prepared to leave the country. He and former trader face federal charges they manipulated currency trades. More

Bernie Sanders takes credit for forcing for forcing Hillary Clinton and the entire Democratic Party to get a lot tougher on Wall Street. But how likely is that to happen? More

Only 3% of employers offer so-called "vacation stipends" that help pay for their employees' vacations. But those that do make taking time off a must. More