Oil major BP freezes pay in 2015 to slash costs - memo

LONDON, Jan 26 (Reuters) - Oil major BP is putting in place a group-wide base pay freeze for 2015 as it seeks to cut cost amid sinking oil prices, an internal memorandum from the company said.

"The tougher external environment in 2015 means that our businesses and functions need to work...to take a number of measures in response to the harsh trading environment," Chief Executive Bob Dudley said in a message to staff.

"One of the measures we are taking across the group is a general freeze to base pay for 2015, with only a few exceptions for specific circumstances around the world," Dudley added. (Reporting by Dmitry Zhdannikov; Editing by Susan Thomas)