Wellington, June 14 NZPA - Sealord boss Graham Stuart says he can't rule out further shake-ups after this week's confirmation of 323 job losses at the company'a Nelson shellfish factory.
Mr Stuart said speculation about other changes was inevitable.
"We're looking at everything all the time. There's nothing
specific at this stage. It's an uncertain time in the industry," he told the Nelson Mail
Mr Stuart said that while Sealord was profitable, much of that profit was being driven by its overseas operations, and its return on shareholders' investment was not good enough.
The overhaul of the shellfish operation - centred on mussels - represented the sort of direction the company needed to head in, he said.
Sealord was moving away from its reliance on traditional "half shell" mussel products (with the shellfish meat presented on one of its natural shells), and would concentrate on meat-only products, for which it was developing new markets.
Mr Stuart said the switch was risky but allowed cost-cutting through automation, and he was confident the risk would pay off.
Sealord Shellfish workers had expected to find out yesterday whether they would be laid off but now will not learn their fate until next week.
Staff had been asked to indicate whether they wanted to be considered for the 57 jobs left at the factory or take voluntary redundancy.
- NZPA
