The newspaper chain owned by Warren Buffett's Berkshire Hathaway is eliminating nearly 300 jobs to cut costs because of declining advertising and circulation revenue.
The Omaha World-Herald reports (http://bit.ly/2o5YHDd ) that 181 people will be laid off at BH Media Group newspapers and another 108 vacant positions will be eliminated.
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BH Media CEO Terry Kroeger says some of the group's 31 daily newspapers are also reducing the number of pages they print.
For instance, the Richmond Times-Dispatch in Virginia plans to lay off 33 employees, including 13 in the newsroom, and eliminate its separate daily business section.
Newspapers are a relatively small part of Berkshire Hathaway, which owns more than 90 subsidiaries and holds investments in companies like Coca-Cola Co., Wells Fargo, Apple and IBM.
Information from: Omaha World-Herald, http://www.omaha.com