Faroese revenue tax blamed for Bakkafrost job losses

Bakkafrost HQ

Source: Bakkafrost

Redundancies have been made at Bakkafrost which the company says is directly due to a decrease in harvest volumes and the new Faroese revenue tax.

In total, 140 employees in Value Added Production (VAP) related areas have been made redundant. The company said it has had to adjust its strategy for contracted VAP to reduce contract exposure for 2024.

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