Cutting jobs standard capitalist stance: Billionaire Buffett
Billionaire Warren Buffett, defended buyout house 3G, with which he attempted to take over Unilever, by saying it was following a âstandard capitalistâ stance to doing business by slashing costs and cutting staff. âThey have followed the standard capitalist formula...of trying to do the same business with fewer people,â Buffett said. He though acknowledged that cutting jobs can be âpainfulâ.