https://www.barrons.com/articles/berkshire-hathaway-geico-progressive-stocks-c03bcdf4
A 20% Job Cut at Berkshire’s Geico Highlights Challenge for Car Insurer
The company, formerly one of the fastest-growing big car insurers, has been shrinking in the past two years.
Geico reduced its staffing by 20% during 2023, giving up more than a percentage point of market share, as the auto insurer moved to retrench and regain profitability. It is the latest twist in a rivalry among some of the top companies in the car-insurance industry. Geico, formerly one of the fastest-growing big players and the jewel of Berkshire Hathaway ’s vast insurance operations, has been shrinking in the past two years. Its archrival, Progressive, has been expanding profitably and seeing its stock price surge.