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Warren Buffett

Buffett's Omaha gets stung as ConAgra follows Heinz cutting jobs

The cost-cutting zeal that Warren Buffett helped bring to the food industry is starting to hit home. ConAgra Foods said Thursday that it's planning to move its headquarters to Chicago from Buffett's hometown of Omaha, Nebraska. In the process, the maker of Chef Boyardee pasta and Orville Redenbacher's popcorn will eliminate more than half its 2,500 corporate jobs in the area. Buffett's Berkshire Hathaway has spent more than $17 billion over the past few years helping investment firm 3G Capital make acquisitions in the food industry. Earlier this year, the partners orchestrated the merger of Kraft Foods Group Inc. with H.J. Heinz. 3G's playbook has been to cut...