Neste proceeds in implementing its performance improvement program and has completed its global change negotiations process

Neste Corporation, Press Release, 7 April 2025 at 9 a.m. (EET)

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.

Neste Corporation

Hanna Maula
Senior Vice President, Communications, Sustainability and Public Affairs

Further information: Please contact Neste's media service, tel. +358 800 94025 / media@neste.com (weekdays from 8.30 a.m. to 4.00 p.m. EET). Please subscribe to Neste’s releases at https://www.neste.com/media/subscribe. 

Neste in brief

Neste (NESTE, Nasdaq Helsinki) creates solutions for mitigating climate change and accelerating a shift to a circular economy. The company is the world’s leading producer of sustainable aviation fuel (SAF) and renewable diesel, enabling its customers to reduce their greenhouse gas emissions. Neste refines waste, residues and other renewable raw materials to high-quality renewable fuels at its refineries located on three continents. The company’s annual renewable fuels production capacity will be increased to 6.8 million tons in 2027. 

Neste has high standards for sustainability and the company has consistently been recognized by several leading sustainability indices. In 2024, Neste's revenue stood at EUR 20.6 billion. Read more: neste.com