Neste to cut 320 jobs in Finland, 70 abroad

The state-run petroleum company Neste has decided to cut 320 jobs in Finland and 70 more abroad as a part of its restructuring plan, said the company in a press release on Wednesday.

Neste has completed its organizational change process to merge its three renewable business units into one Renewable Products business unit as well as restructure its functions.

Earlier on November 1, the company announced the planned organizational changes and estimated that about 400 job roles will be cut globally.

Neste offers its employees support in adapting to the situation in different ways.

The restructuring is expected to result in total annual cost savings of about EUR 50 million.