Nelson-Based New Zealand King Salmon Shedding 139 Jobs

Nelson-based New Zealand King Salmon is shedding 139 jobs as it tries to recover financially from the effects of rising sea temperatures and the Covid-19 pandemic. Company chief executive Grant Rosewarne says the situation is also largely a result of a lack of new water space for salmon farming and the avoidable tragedy of increased salmon deaths arising from hotter sea temperatures. The company is focussing on reducing jobs from 580 to 441 by not replacing some staff who leave and some workers being made redundant. 59 jobs had already gone through natural attrition, which will account for 80% of the job losses in Nelson and Marlborough. For the 12 months to the end of January New Zealand King Salmon reported a net loss after tax of $73 million, attributing that to a difficult year because supply line costs from the Covid-19 pandemic and the loss of fish due to sea warming. NZ King Salmon is awaiting Govt approval of a salmon farm in the cooler waters of Cook Strait.