Bloomberg reporting that Elkhart-based Forest River is cutting jobs

By Marilyn Odendahl, Truth Staff

modendahl@etruth.com

Berkshire Hathaway is cutting jobs at some of its manufacturing operations, including Elkhart-based Forest River.

Bloomberg.com is reporting today that Warren Buffett's Berkshire will cut manufacturing jobs and close facilities after posting its worst financial results ever in 2008. The article mentions that recreational vehicle maker Forest River is among the operating businesses that will see reductions in its staff although the story does not specify how deep those cuts will be.

Speaking to Bloomberg.com, financial analyst Justin Fuller, who operates the Web site buffettologist.com, said Buffett had to make these cuts as consumer demand for certain products has declined considerably.

"The RV business is probably at a complete standstill," Fuller said.

In his annual letter to shareholders, Buffett wrote Berkshire Hathaway saw its profits drop 62 percent in 2008 primarily because of the economic turmoil.