(Reuters) – Berkshire Hathaway said on Friday that it has poured more than 4,000 jobs in the past year, even if Warren Buffett's conglomerate is on a pace to make a record annual operational profit.
In a regulatory application, Berkshire said that his dozens of operational companies employ around 392,000 people, shown by 396,440 in his most recent annual report last February.
The submission did not say which companies have cut or added, jobs. Larger employers in Berkshire include the BNSF railway, the Aico-Auto insurer, Marmon production and service companies and the pilot truck stop chain.
The Buffett assistant did not immediately respond to a request for comments.
Berkshire wants to possess strong companies that can hold on forever, but will make job losses to tackle changing markets or business priorities.
Geico cut 7,700 jobs in 2023 because it fighted insurance technical losses, while Precision Castparts cut 13,400 jobs in 2020 when the COVID-19 Pandemie destroyed the demand for its aircraft components.
More recently, Pilot made its international oil trade in the oil trade and left most leaders of that company to concentrate on truck stops and service stations.
Berkshire reported a record of $ 37.35 billion in business profit in 2023 and $ 32.91 billion in business profit in the first nine months of 2024. It is expected to report the results for 2024 at the end of February at the end of February.
Buffett, 94, has led Berkshire since 1965. The Omaha, the Nebraska -based conglomerate has been decentralized and Buffett is not involved in the daily activities of his subsidiaries.
(Reporting by Jonathan Stamp in New York; adaptation by Bill Berkrot)
