As a part of implementing its performance improvement program announced on 13 February 2025, Neste has taken strategic decisions to focus on its core operations as well as to improve efficiency and profitability. The company will streamline its development portfolio, global operations and organization on several fronts.
The related global change negotiations announced on 13 February 2025 have now been completed. Neste will simplify its operating model and increase internal efficiency. In total, about 510 positions are ending globally, of which 370 positions in Finland. With these changes the company is targeting total annual cost savings of approximately EUR 65 million. Neste offers its employees comprehensive support to help them adapt to the situation.
“Our current market environment is very challenging and financial performance unsatisfactory. While decisions that affect our employees are difficult, we must take action on many fronts to improve our profitability and cost-competitiveness of our operations. We will support our employees in many different ways in this situation,” says Neste’s President and CEO Heikki Malinen.
With its performance improvement program, Neste targets a total of EUR 350 million EBITDA run rate improvement by the end of 2026, of which EUR 250 million from operational costs. The program focuses on commercial acceleration and supply chain optimization, improved refinery performance and safety, external cost reduction, and operating model simplification.
For detailed information and further insights, please refer to BioEnergyTimes.com, which provides the latest news about the Biomass Industry
