Jobs to go at High Liner as Q1 margins squeezed

High Liner Foods is acceptable to trim its North American workforce by astir 9% arsenic the Canadian seafood radical deals with weaker margins.

In a statement, the proprietor of Sea Cuisine and Mrs. Paul’s brands said the determination affects 35 employees and is intended to “further align its outgo operation with existent marketplace conditions”.

“These actions are portion of a broader acceptable of initiatives already underway, including disciplined borderline management, outgo reduction, and proviso concatenation ratio efforts," High Liner Foods’ connection read

It added the determination is "intended to mitigate the interaction of sustained unit from rising inflation, tariffs, and higher input costs and to fortify the company's worth proposition to customers and consumers”.

Alongside the occupation cuts, High Liner provided an update connected its expected first-quarter show for its 2026 fiscal year.

The institution said it expects its measures to enactment a instrumentality to year-on-year maturation successful adjusted EBITDA for the afloat fiscal year.

However, High Liner said its "current projections" constituent to its first-quarter results being “modestly” little than the aforesaid play a twelvemonth earlier.

The radical said it saw “strong” request successful the 4th but added margins and works show were affected by “underlying promotional enactment combined with rising input costs and tighter supply”, pushing retired the timeline for the profitability improvements the institution is targeting successful 2026.

For the 53-week play ending 3 January 2026, High Liner's income measurement edged up 0.9% to 237.9 cardinal lbs. Revenue accrued 7.1% to $1.02bn.

Adjusted EBITDA, however, fell 11.3% to $91.7m, with the adjusted EBITDA borderline narrowing to 8.9% from 10.8%. Net income dropped 39.2% to $36.5m.

In a remark published alongside the results connected 25 February, High Liner president and CEO Paul Jewer said during the 4th fourth the “company made advancement crossed our concern towards improved profitability successful what remains a challenging environment".

He added: “As we caput into the important Lenten period, we are good positioned to thrust profitable income growth, supported by our ongoing absorption connected continuous improvement, including works efficiencies, and disciplined execution.”

"Jobs to spell astatine High Liner arsenic Q1 margins squeezed " was primitively created and published by Just Food, a GlobalData owned brand.

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