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High Liner Foods cuts salaried workforce by 14 per cent after disappointing Q3

November 8, 2018 4:02 PM
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A one-time charge of $4.5 million, including $3.3 million in the fourth quarter, will be associated with the latest restructuring.

The company is also taking steps to simplify its business, implement one integrated supply chain, fully extract value and synergies from its Rubicon acquisition, and invest in product innovation and other things to return to profitable organic growth by 2020.

High Liner, which keeps its books in U.S. dollars, reported a $44 million gross profit for the third quarter ending September 29, down $4.3 million from $48.3 million in the same quarter the previous year.

Source: thestar.com

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