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| 50 jobs cut at Warren Buffett's Tulsa paper | |
| (about 5 hours later) | |
| Even if your newspaper owner is one of the richest men in the world it doesn't save you from redundancy. The Tulsa World, the Oklahoma newspaper acquired in February this year by Warren Buffett's Berkshire Hathaway group, is to shed 50 jobs. | Even if your newspaper owner is one of the richest men in the world it doesn't save you from redundancy. The Tulsa World, the Oklahoma newspaper acquired in February this year by Warren Buffett's Berkshire Hathaway group, is to shed 50 jobs. |
| Twelve jobs in the administrative, information technology and production departments are to go immediately. The rest will follow over the coming months. | |
| The paper's publisher, Bill Masterson, told staff the job cuts were part of a reorganisation plan to achieve "industry norms." He said: "We looked at all of our expense streams and made some hard choices that will allow us to be as efficient as possible in the future." | The paper's publisher, Bill Masterson, told staff the job cuts were part of a reorganisation plan to achieve "industry norms." He said: "We looked at all of our expense streams and made some hard choices that will allow us to be as efficient as possible in the future." |
| Buffett's media division has spent close to $400m (£265m) buying 29 daily newspapers (plus 40 non-daily titles) in the past 18 months. | Buffett's media division has spent close to $400m (£265m) buying 29 daily newspapers (plus 40 non-daily titles) in the past 18 months. |
| Sources: Tulsa World/KJRH | Sources: Tulsa World/KJRH |