Marine Harvest Scotland has announced plans to cut 100 jobs, equivalent to 15 percent of its workforce, to make the business more efficient and sustainable.
The move follows the Norway-based salmon farming company’s latest trading update, which stated that the start-up costs for its new Rosyth processing plant in Scotland were higher than previously expected and that it had impacted results negatively by approximately NOK 70 million (EUR 7.2 million; USD 7.8 million) in the last quarter.
As a result, salmon of Scottish origin achieved an operational EBIT of NOK -0.90 (EUR -0.09; USD -0.10) per kg in the period.
Marine Harvest said the harvest volumes for 2016 will not be impacted by the restructuring plan.
Overall, the group achieved operational earnings before interest and taxes (EBIT) of NOK 850 million (EUR 87.4 million; USD 95.2 million) in the fourth-quarter of 2015, down from more than NOK 1 billion (EUR 102.8 million; USD 112 million) in the corresponding period of 2014.
