Highland fish processor Aquascot confirms lay-offs amid 'challenging market conditions'
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A firm which has been hailed a model for employee-owned businesses has cited "challenging market conditions" for staff lay-offs and reduced production.
Aquascot is a processor of fresh, locally-sourced Atlantic salmon and trout, and has been a dedicated partner of Waitrose supermarkets since 2003.
Aquascot, which is based at Fyrish Way in Alness, also says that increased raw material costs and a reduction in fish being sold from the retailers it deals with are behind the decision.
A number of contract workers are understood to have been told of the decision this week, some voicing shock at the turn of events.
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Aquascot told the Ross-shire Journal: “We can confirm that in response to challenging market conditions specifically, increased raw material costs, Aquascot has taken the decision to reduce staffing levels at our facilities and commence a 5-day a week processing system.
"Our customers are seeing less fish sold on the shelves and we have needed to respond to this to ensure we can continue supporting our customers in the long term. We are providing affected partners with support and guidance at this difficult time.
"A small number of partners are in consultation currently and we need to respect their privacy. To limit the effect on our partners we have paused using agency workers and so they have left us and returned to their respective agencies.
"We remain closely aligned to our key customers who have supported us throughout this difficult time."
Last September, the company said in its accounts it was well placed to to manage the economic risks posed by coronavirus.
For the latest accounts period, pre-tax profit decreased from £1,702,151 to £413,115.
The average number of employees increased from 188 in 2020/21 to 193 last year, while staff costs increased from £6,011,959 to £6,277,711.
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