Finland’s Neste to cut 400 jobs in cost cutting drive

Finland's Neste said on Wednesday it plans to save 50 million euros ($53 million) annually through measures it expects will include shedding 400 jobs globally. The refiner and biofuels producer said it would merge its Renewable Aviation, Renewable Road Transportation and Renewable Polymers and Chemicals divisions into one, and streamline its development portfolio. Neste also plans to streamline its development portfolio to realise additional savings, it said, adding that the majority of these savings would be made during 2024.