Iceland’s Fishing Industry Increases Salaries of Workers Skip to content

Iceland’s Fishing Industry Increases Salaries of Workers

Fishing company Frostfiskur ehf., located in Thorlákshöfn in south Iceland, is the latest seafood company to increase the salaries of its employees by 3.5 percent, retroactive from March 1, despite agreements between the Confederation of Labor (ASÍ) and Icelandic Employers (SA) on postponing activating contractual wage contracts.

Icelandic cod. Copyright: Icelandic Photo Agency.

An announcement from Frostfiskur states that with the pay raise the company wants to reward its fantastic workforce and thank them for jobs well done, Morgunbladid reports.

Approximately 135 people work at Frostfiskur. Last year was record-breaking in terms of production and it appears that 2009 will break yet a new record.

Earlier this month fishing company HB Grandi in Reykjavík was the first to raise the salaries of its employees, by ISK 13,500 (USD 109, EUR 83) per month, effective immediately.

The decision was made in reaction to criticism for paying shareholders dividends of eight percent while denying laborers pay raises.

Many other companies involved in the fishing industry followed HB Grandi’s example, including Brim in Reykjavík, Nordurströnd in Dalvík, Saemá in Blönduós, Sjávaridjan in Rif, Godthhab in the Westman Islands and Hrognavinnsla Vignis G. Jónssonar in Akureyri.

Click here to read more about the criticism HB Grandi was subject to.

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