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Berkshire Hathaway has shed more than 4,000 jobs


Published on 2025-01-31 14:40:48 - Reuters
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  • Berkshire Hathaway said on Friday it has shed more than 4,000 jobs over the last year, even as the conglomerate run by Warren Buffett is on pace to post a record annual operating profit.

Berkshire Hathaway, led by Warren Buffett, has reduced its workforce by more than 4,000 jobs since the end of 2022, bringing the total number of employees down to 372,000 by the end of 2023. This reduction was influenced by the sale of businesses like the paint maker Benjamin Moore, which had about 2,000 employees, and the closure of a chemical plant in Texas. Despite these cuts, the company's operating profit saw a significant increase of 28% to $8.5 billion in the fourth quarter, driven by strong performances in insurance underwriting and investment income. However, the overall revenue for the quarter decreased by 7% to $169.9 billion, primarily due to lower investment income from its insurance operations.

Read the Full Reuters Article at:
[ https://www.reuters.com/business/finance/berkshire-hathaway-has-shed-more-than-4000-jobs-2025-01-31/ ]
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