Surprise: newspapers owned by Berkshire Hathaway are just as likely to face layoffs as other PE firm owned media properties
Is it really surprising when a newspaper owned by a private equity firm faces layoffs? No. But for some reason people are surprised when a Warren Buffett owned paper announces layoffs, as if Berkshire Hathaway should be expected to act any differently than other PEs.
“While painful, this restructure is aimed at taking advantage of efficiencies within our larger company, leveraging content positions to serve our readers with added local news, information, and advertising well into the future,” said Publisher Terry H. Jamerson in the Times own post on the layoffs. “We are saying goodbye to some great people today and we thank them for their service and wish them well in their future endeavors.”
Jim Romenesko reports that at least five of the positions are in the newsroom.