(Reuters) – Neste will close its refinery in Naantali, Finland, cutting 370 jobs to save 50 million euros (9 million) due to declining demand for fossil oil products, the Finnish biofuel producer said and oil refiner on Monday

In September Neste announced that it would cut up to 470 jobs in Finland as a restructuring of the refinery operations in Porvoo and Naantali was planned However, the number of final job cuts decreased during the legal cooperation negotiations with his employees

“The company will focus the Naantali site on terminal and port operations and renew its oil products operating model,” Neste said in a statement

Later, the Porvoo refinery will be developed to process renewable and circular raw materials together, she added

“The COVID-19 pandemic has significantly accelerated the decline in demand for oil products that are not expected to recover to previous levels,” said Neste

All offers were delayed by at least 15 minutes. For a full list of exchanges and delays, see

Neste

World news – FI – Neste closes refinery in Finland and cuts 370 jobs

Source: https://uk.reuters.com/article/uk-neste-layoffs-idUKKBN28A0W9