Sector News

Neste Oil looks to lay off 203

November 26, 2014
News
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.
 
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.
 
Source: Yle

Related News

August 23, 2019

The higher purpose of being a CEO

Borderless Leadership

When I left my second large company experience to become President of a small manufacturing company I did so driven by ego; I fancied the title. Soon enough I realized […]

August 23, 2019

As Brexit nears, Britain’s drugs, devices and pricing regulators seek the exit

Life sciences

Firm details on exactly how the U.K. will regulate new medicines is still to be decided after it leaves the EU later this year (caveats on timing abound), but we […]

August 23, 2019

The Simply Good Foods Company acquires Quest Nutrition for $1bn

Food & Drink

The Simply Good Foods Company, the owner of Atkins-branded food products, has secured a deal to acquire protein snack maker Quest Nutrition for $1 billion. Quest, which sells a range […]