It said the decision had been taken following statutory employer-employee negotiations that began last month.
The review included tanker chartering division Neste Shipping, but no exact figure was given for this company.
Of the total, 100 positions will be lost through voluntary retirement.
Neste has been selling off its fleet of tankers to focus on core refinery operations.
Ship management has been outsourced to OSM, but Neste Shipping has continued with its own chartering operations.
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