Declining sales of building-related materials has led Berkshire Hathaway Inc. to cut about 3,000 jobs. The cuts were revealed in a regulatory filing made Thursday. According to Businessweek, Berkshire and its subsidiaries employ about 222,000 people, which is 1.3 percent less than six weeks ago and 10 percent less than the 246,083 jobs the company had [...]
Continue reading...Tuesday, November 3, 2009
Warren Buffet’s Berkshire Hathaway is poised to spend $34 Billion to buy out Burlington Northern Railroad, making it the company’s largest ever acquisition. The deal has been approved by the board of directors of both companies, but will still have to clear a 2/3rds vote of Burlington’s shareholders and antitrust laws. There is no news [...]
Continue reading...Monday, September 14, 2009
Shaw Industries, a full service flooring manufacturer, is reopening a facility in Georgia to process filament yarn used in the company’s residential carpet manufacturing. The factory, expected to be operational mid 2010, will bring in 200 jobs to Calhoun, Georgia. Shaw was founded in 1946 as Star Dye Company and in 2001 was purchased by [...]
Continue reading...Friday, September 11, 2009
NetJets, which is owned by Warren Buffet’s Berkshire Hathaway, is making cuts in its unprofitable plane-leasing business. The company, which is undergoing reorganization under new CEO David Sokol, said in an email that severe economic conditions facing the airline industry have led to a decline in demand for flights. As many as [...]
Continue reading...Friday, August 7, 2009
Apparel manufacturer Fruit of the Loom will relocate 270 jobs from Alexander City and Monroeville, Alabama, to the firm’s Bowling Green, Kentucky headquarters. The company will lay off 58 workers at its Russel plant in Monroeville, and 218 at its Vanity Fair plant in Alexander City. The transition will be complete by December. Some employees will [...]
Continue reading...Wednesday, June 10, 2009
Luxury jewelry retailer Borsheim’s has laid off 13 people, or %5 of its workforce. It now has 267 employees. These are the first layoffs in the firm’s 139-year history. Borsheim’s Fine Jewelry is a jewelry store in Omaha, Nebraska. The store was founded in 1870, and has grown to become one of the largest independent jewelry stores [...]
Continue reading...Tuesday, April 21, 2009
The State of North Carolina has given Missouri’s MiTek $28,000 to create 29 jobs through an expansion in Edenton, population 5,400. The new jobs in Edenton come from South Carolina and Indiana, and will pay an average wage of $26,000. The Berkshire Hathaway subsidiary will invest $2 million in the Chowan County expansion over the next three [...]
Continue reading...Wednesday, March 25, 2009
Carpet and flooring company Shaw Industries Group will close two plants in Georgia, eliminating 600 jobs. The Dalton, Georgia-based company will shutter a spun yarn facility in Calhoun and a filament yarn facility in Valdosta. Production at the plants will cease in the next few weeks. Shaw employs about 18,000 people in Georgia, and will try to [...]
Continue reading...Tuesday, March 3, 2009
Gazillionaire Warren Buffett’s Berkshire Hathaway cut staff last year in half of its operating units, and says more job cuts are coming. The deepest cuts came in businesses tied closely to the housing market. Clayton Homes, a manufacturing housing unit, eliminated 2,290 jobs, or 16%, to end the year with 11,998 workers. Carpeting maker Shaw Industries [...]
Continue reading...Wednesday, February 25, 2009
McLane, a national chain store supply company, will spend $60 million to build a warehouse and distribution facility in Republic, Missouri. The new distribution facility will create 400 new full-time jobs within a year of its opening, with an average starting wage of $32,259. McLane, a $30 billion company based in Temple, Texas, provides grocery and food [...]
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Thursday, February 4, 2010
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