The global plan includes the 4,800 job cuts announced in May and will mostly be at factories overseas with low utilisation rates.
Brent crude futures were up USD 1.17, or 1.9 per cent, at USD 63.10 a barrel by 0505 GMT.
Oil prices are being pressured by ongoing worries about demand as the US-China trade war.
West Texas Intermediate crude was up 70 cents, or 1.2 per cent, at USD 58.13 a barrel.
The virtual currency gained more than $5,000 in just two days