US trout farmer Riverence lays off staff
United States trout producer Riverence has laid off 162 employees due to the Covid-19 pandemic reducing sales, it has been reported.
Idaho TV station KMVT said on its website that 97 employees – a third of the staff - had been laid off at Riverence subsidiary Clear Springs Foods between April 3 and April 17.
Riverence Farms laid off 62 employees, and Riverence Holdings laid off three.
Massive sales decreases
The company produces trout eggs in Washington state and the company’s grow-out farms are located along the Snake River in Idaho’s Magic Valley.
KMVT said that Riverence told the station: “The coronavirus pandemic has been incredibly challenging for us. Like many food producers, we experienced a massive decrease in sales with the national closure of food service, which changed the economics of our business from top to bottom.”
Riverence also noted that all remaining salaried employees received a 25% pay cut, and that the chief executive is taking no salary for the time being.
“The situation was very unfortunate and by no fault or wrong-doing by any of our employees. We are continuing to provide medical benefits through the end of the month, plus 90 days of access to an employee assistance program,” Riverence told KMVT.
