Over 1,900 employees in the Norwegian fish farming and fish processing industry were laid off in the first half of 2003, a rise of 20% compared to the same period last year.
Go deeper with GlobalData
The county with the highest number of job cuts was Finnmark, in the north of the country, where 350 people were laid off.
Since 1998, 50 of the total of 60 fish filet processing companies in Norway have filed for bankruptcy, with 18 of those bankruptcies occurring in the first half of 2003, reported the Norwegian News Digest.
The Norwegian fishing industry is struggling to compete with strong competition on the international market. To overcome this problem, the Norwegian Fishing and Aquaculture Industry Association has advised the industry to focus on increasing production of fresh filets and seafoods.
In 2002, the Norwegian fishing industry recorded a loss of NKr1.5bn (US$207.9m).
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
