Neste Oil has completed the statutory employer-employee negotiations commenced on 7 October, 2014. The negotiations concerned the personnel of Neste Oil Corporation, Neste Renewable Fuels Oy, and Neste Shipping Oy.

As the result of the negotiations, Neste Oil's personnel will be reduced by 203 employees in Finland by the end of 2016. Of them, approximately 100 persons have opted to take voluntary retirement. Neste Oil will provide various forms of support to the remaining 97 persons concerned by the arrangements. At the beginning of the statutory negotiations, Neste Oil expected its labor requirements to reduce by 250 employees, primarily in Finland.

Most of the reductions in the Group's support functions will take place in 2014-2015. The reductions will be implemented in Oil Products during 2014-2016, as reductions in the operational functions of the Porvoo and Naantali refinery units will mainly be implemented in accordance with the turnaround and production change project schedules.

Tags: Neste Oil Corporation