Berkshire’s Geico Has Cut Thousands of Jobs in Turnaround Effort

Berkshire Hathaway said its auto insurer Geico has cut tens of thousands of jobs as part of its efforts to turn around a business that’s lagged behind peers.

Berkshire’s Vice Chair of Insurance Operations Ajit Jain said Geico reduced the insurer’s headcount from approximately 50,000 to roughly 20,000, though he didn’t specify the time period for the reductions.

The Geico booth during a shareholders shopping day ahead of the Berkshire Hathaway annual meeting in Omaha, Nebraska, on Friday, May 2, 2025.

Photographer: Dan Brouillette/Bloomberg

Geico, the main contributor to Berkshire’s insurance results, posted $2.2 billion of pretax underwriting earnings, a roughly 13% jump from last year’s first quarter. The auto insurer added new clients in the period, building on a rebound that began in the ...