AKVA cuts jobs in land-based business arm, citing Norwegian resource tax impact

Norway’s new resource rent tax for salmon farming has hit AKVA Group’s land- and sea-based business arms, with the company saying it was forced to take corrective measures, including the termination of 50 positions. Delivering the Norwegian aquaculture services and equipment provider’s third-quarter results on 10 November 2023, CEO Knut Nesse explained that the company will carry out a “rightsizing process” – targeting NOK 45 million (USD 4.1 million, EUR 3.8 million) in annual cost savings –…

Photo courtesy of AKVA Group