As part of its performance improvement programme announced on 13 February 2025, Neste has taken significant strategic steps aimed at sharpening its focus on core operations and enhancing overall efficiency and profitability. The company is streamlining its development portfolio, global operations, and organisational structure across multiple areas.
The global change negotiations have now concluded. Following these discussions, Neste will simplify its operating model and increase internal efficiency. As a result, approximately 510 positions will be discontinued globally, including 370 in Finland. Through these changes, the company aims to achieve total annual cost savings of around EUR 65 million. Neste has committed to providing comprehensive support to affected employees to help them navigate the transition.
Commenting on the development, Heikki Malinen, president and CEO of Neste, stated:
“Our current market environment is very challenging, and our financial performance has been unsatisfactory. While decisions that impact our employees are never easy, decisive action is required to improve our profitability and the cost-competitiveness of our operations. We are committed to supporting our employees in various ways during this process.”
Through its broader performance improvement programme, Neste is targeting an improvement in its EBITDA run rate of EUR 350 million by the end of 2026. Of this, EUR 250 million is expected to come from reductions in operational costs. The programme centres on commercial acceleration, supply chain optimisation, enhanced refinery performance and safety, external cost reductions, and a more streamlined operating model.
For more information visit www.neste.com
