Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Bremnes Seashore, a Norwegian aquaculture company, has announced the closure of its "Salma" salmon production line, resulting in the loss of over 100 jobs. The affected employees work across the company's value chain, including the main facility in Bømlo, Norway.
The decision to discontinue the Salma brand follows several years of financial losses in this segment, with projections indicating further losses. Factors driving this move include rising raw material costs, increased operational expenses following investments in a new factory, and declining sales due to reduced consumer purchasing power for premium products. The restructuring aims to strengthen Bremnes Seashore’s focus on other high-quality salmon products.
The layoffs involve employees across the production, processing, and supply chain functions. The company has committed to conducting the redundancies in an orderly and fair manner in close collaboration with employee representatives.
Bremnes Seashore is one of the largest privately owned salmon farming firms in Norway, handling the full production chain for salmon. The company is headquartered in Bømlo and has farming facilities in Hardanger, Sunnhordland and Rogaland, spread across 30 locations. The management has criticized the Norwegian government for insufficient support for local ownership and processing, citing high taxes and regulatory challenges, notably after the 2023 introduction of a resource rent tax on aquaculture.
Eurofound (2024), Bremnes Seashore, Internal restructuring in Norway, factsheet number 202084, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/202084.
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