•   
  •   
  •   

TechnologyHigh Liner Foods cuts 14 per cent of jobs

19:08  08 november  2018
19:08  08 november  2018 Source:   msn.com

Trump’s Tax Cuts 10 Times Worse For Canada Than NAFTA Cancellation: Report

  Trump’s Tax Cuts 10 Times Worse For Canada Than NAFTA Cancellation: Report Trump’s Tax Cuts 10 Times Worse For Canada Than NAFTA Cancellation: ReportNumerous top Canadian executives have been arguing recently that Canada stands to lose its competitive advantage as a place to do business, thanks to lower corporate taxes south of the border.

High Liner Foods is built on core values and guiding principles that serve as a compass to guide our decision making, and affect how we do business High Liner Foods is an equal opportunity employer. Applicants that require accommodation in the recruitment and selection process may contact

High Liner Foods at a Glance. Stock and Shareholder Information. Management and Investor Relations. Subsidiary Companies and Affiliates. High Liner Foods (USA), Incorporated. Rubicon Resources LLC.

High Liner Foods cuts 14 per cent of jobs© Provided by thecanadianpress.com

LUNENBURG, N.S. - High Liner Foods Inc. says it has let go 14 per cent of its salaried employees as part of cost-cutting measures following a disappointing third quarter.

The frozen seafood processor says it is executing against five critical initiatives, including the organizational restructuring, that will achieve more than US$10 million net annualized run rate cost savings within the next 12 to 15 months.

A one time charge of US$4.5 million, including US$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.

Maple Leaf Foods buying Viau Foods for $215M

  Maple Leaf Foods buying Viau Foods for $215M Maple Leaf Foods buying Viau Foods for $215MMaple Leaf Foods chief executive Michael McCain says the deal expands its position in the market for premium dry cured and pepperoni meat products and adds production capacity in Quebec.

High Liner Foods is the leading North American processor and marketer of value-added frozen fish and seafood. High Liner Foods Updates. Sustainably Sourced Seafood.

High Liner Foods achieved higher profitability and earnings in 2016, as we refined our strategy for sustainable growth amidst a challenging industry environment. Adjusted Net Income2 increased by .3 million, or 14 .9 percent , to .9 million and Adjusted Diluted Earnings per Share2 were .31

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.

It says its net income fell $1.5 million to $4.5 million or 13 cents per share, down from $6 million or 18 cents per share in the last financial year's third quarter.

Sales in the quarter dropped by $41.5 million to $241.2 million. That's down from $282.7 million in the same quarter the previous year.

CEO Rod Hepponstal says in a statement the disappointing results reflect challenges in the external operating environment and the company's internal operations.

He says the company has moved quickly to realign the business and drive cost efficiencies, and thanked departing employees for their contributions.

Companies in this story: (TSX:HLF)

Follow @MSNMoneyCanada on Twitter.

Canada adds 11,200 jobs, unemployment rate dips to 5.8 per cent.
  

—   Share news in the SOC. Networks

Topical videos:

This is interesting!