Warren Buffett's big jewelry retailer in Omaha is feeling the recession's sting.
Demonstrating that even 'luxury' stores backed by billionaires aren't immune to the economic downturn, Borsheim's has laid off 13 employees from "across the company," a reduction of 4.6 percent. It now has 267 workers.
The company is owned by Buffett's Berkshire Hathaway. Berkshire's home page prominently features a link to Borsheim's along with a quote from Warren E. Buffett: "If you don't know jewelry, know the jeweler."
Borsheim's single 62,500 square foot store anchors the upscale Regency Court mall in Omaha. It plays a starring role at Berkshire's annual shareholders meeting, hosting an enormous party each year and, of course, selling jewelry to attendees at a special discount.