Jobs To Go At High Liner As Q1 Margins Squeezed 

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High Liner Foods is group to trim its North American workforce by roughly 9% as nan Canadian seafood group deals pinch weaker margins.

In a statement, nan proprietor of Sea Cuisine and Mrs. Paul’s brands said nan move affects 35 labor and is intended to “further align its costs building pinch existent marketplace conditions”. 

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“These actions are portion of a broader group of initiatives already underway, including disciplined separator management, costs reduction, and proviso concatenation ratio efforts,” High Liner Foods’ connection read

It added nan move is “intended to mitigate nan effect of sustained unit from rising inflation, tariffs, and higher input costs and to fortify nan company’s worth proposition to customers and consumers”.

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

The institution said it expects its measures to support a return to year-on-year maturation successful adjusted EBITDA for nan afloat fiscal year. 

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

The group said it saw “strong” demand successful the quarter but added margins and works capacity were affected by “underlying promotional activity mixed pinch rising input costs and tighter supply”, pushing retired nan timeline for nan profitability improvements nan institution is targeting successful 2026. 

For nan 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, pinch nan adjusted EBITDA separator narrowing to 8.9% from 10.8%.   Net income dropped 39.2% to $36.5m.  

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

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