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Neste Oil looks to lay off 203

The Finnish oil firm Neste Oil is set to cut more than 200 jobs after talks with unions. The firm hopes around half the reductions will come as people retire.

Neste Oilin pääkonttori Espoon Keilaniemessä.
Neste Oil is looking to cut its payroll. Image: Yle

Finland’s majority state-owned oil firm, Neste Oil, is set to cut more than 200 jobs in Finland by the end of 2016. Around a hundred of those are expected to come from voluntary early retirements.

The news comes at the conclusion of lay-off talks with unions, and the job cuts will affect the firm’s renewable fuels arm, shipping firm and the parent company itself. The final figure is less than the 250 job cuts the firm had estimated were necessary at the start of the negotiations.

Neste Oil employs around 5,000 people, of whom 3,500 are based in Finland. Some 2,500 employees were under threat during the lay-off talks.

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