The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
(10 - 33) Manufacturing (19) Manufacture of coke and refined petroleum 19 - Manufacture of coke and refined petroleum products 19.20 - Manufacture of refined petroleum products and fossil fuel products
370 jobs Number of planned job losses
Announcement Date
13 February 2025
Employment effect (start)
27 March 2025
Foreseen end date
7 April 2025
Description
The Finnish energy company Neste has initiated cooperation negotiations which will affect 600 staff, out of which 450 are in Finland. The negotiations concern the Petroleum Products and Renewable Products business areas and all joint operations. The cooperation negotiations primarily target white-collar employees, rather than employees in production.
Neste’s profitability has plummeted and the company dismissed 320 employees in Finland in 2024Neste 2023 - FI. According to Neste, the operations are affected by a competitive market and low market prices for their products. Further, state regulation in Finland related to the required share of renewables in fuels has changed back and forth, resulting in insecurity for the producers. The change of governance in the United States, which is a significant market for Neste, also causes disruptions.
The Finnish state holds the majority of shares in Neste. In Finland, the company has approximately 4,000 employees.
Update, 2025-07-01
Neste has concluded cooperation negotiations. As a result, approximately 510 positions will be discontinued globally, out of which 370 in Finland.
Eurofound (2025), Neste, Internal restructuring in Finland, factsheet number 202369, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/202369.
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