Salmon farmer Scottish Sea Farms has announced plans to provide cost of living support for its employees to ease the impact of soaring fuel bills and food prices.
Each of the company’s 678 employees will receive £750 spread out over three months.
October, November and January will see £250 added to monthly salaries, with a break in December when the company traditionally rewards its employees with an end-of-year bonus.
The move comes as inflation hit 9.9% last month and with the economy increasingly in disarray.
“The challenge facing all employers is how help employees meet the increased cost of living whilst also safeguarding long-term business viability,” said MD Jim Gallagher.
Other companies have already made statements to support staff, including Sainsbury’s, which announced shopworkers would receive a second pay rise in a year up to £10.25 or £11.30 in London.
It comes as other costs for the fishing industry continue to rise. In August, Seafish, the industry body for seafood, said that fuel prices – which it had expected to peak at the level of 90p per litre (all tax excluded) for the sector – were now close to £1 on average.
According to Gallagher, fish feed has gone up by 43% this year while the cost of oil and diesel has increased by 71% and utilities by 125% in the same period.
“The pressure on household budgets is every bit as real and we hope that the extra monthly support will go some way towards helping our employees with rising household costs and bills, which have become a huge cause for concern,” Gallagher added.
All those employed by Scottish Sea Farms before or from 1 October 2022 will receive the support payments, starting this month and subject to the normal salary deductions. Anyone starting employment after this date will be eligible from the first of the next calendar month.
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