Largest trout farmer in USA lays off half its workforce

News
1103

Riverence Holdings makes COVID-19 cuts.

Riverence Holdings, which in February acquired its rival trout farmer Clear Springs Foods, has had to lay off nearly half its staff reports Capital Press.

It was only a few short months that newly formed trout powerhouse announced that it would be producing 15,000 tonnes annually for the US market.

Now in light of the total complete closure of the HORECA industry, Idaho’s Riverence Holdings has made quite significant cuts.

A company spokesperson told the publication that the company laid “off 97 employees representing 35 per cent of its workforce at Clear Springs Foods. It also laid off 62 employees representing 49% of its workforce at the nearby Riverence Farms trout facility and three others related to the Idaho operations of Riverence Holdings”.

“At this time, we cannot state the anticipated duration of this layoff, which could be permanent, as we cannot predict the spread of COVID-19, the government’s corresponding actions or the impact this situation will have on our business moving forward,” a spokesperson told Capital Press.

The company uses RAS tech to raise fish such as golden rainbow trout which has gained praise from celebrity chefs such as Andrew Zimmern, and a spot on the menus of restaurants like Tender Greens, GT Fish & Oyster, Sparrow & Wolf, The Breadfruit & Rum Bar, Momofuku and Imoto.

The Riverence portfolio includes 14 farms able to produce more than 15,000 tonnes annually, four brood stations, two processing facilities, a value-added processing facility, a waste recovery plant, and a feed mill.

SalmonBusiness has contacted Riverence Holdings for comment.