Internal restructuring
Location of affected unit(s)
Finland, other countries
Manufacture Of Coke And Refined Petroleum Products
Manufacture Of Coke And Refined Petroleum Products
19.2 - Manufacture Of Refined Petroleum Products

400 jobs
Number of planned job losses
Job loss
Announcement Date
1 November 2023
Employment effect (start)
1 November 2023
Foreseen end date


The Finnish oil refining company Neste has announced that it will cut 400 employees worldwide, including 300-350 jobs in Finland. About another 50-100 jobs abroad Finland will be cut, but, so far, there is no information on which countries will be affected.

The redundancies are part of organisational changes aimed at boosting the company’s competitiveness in the renewable fuel sector. The programme is an attempt to reduce operating expenditures by € 50 million annually. The measure is to create more than € 350 million of value by the end of 2026, most of it in 2024.

The conditions of theprogramme will be negotiated with employee representatives according to local regulations.

Founded in 1948, Neste produces, refines and market soil products, provides engineering services, and licenses production technologies. Neste has operations in 14 countries, its production facilities are located in Finland, the Netherlands and Singapore. The company employs about 5200 people worldwide.

The restructuring event in Finland has been recorded in the ERM events database [Neste-2023-FIN] (https://apps.eurofound.europa.eu/restructuring-events/detail/200479)



Eurofound (2023), Neste, Internal restructuring in World, factsheet number 200569, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/200569.