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The company also said it is cutting its forecast for its full year earnings for 2001 to 70 cents per share.
It is cutting its dividend payment to shareholders.
It is cutting its final dividend by 35% to 9.1p taking the total to 17.1p.
It has also just announced that it is cutting its marketing spend in 2009.
It is cutting its dividend and may seek an additional 2 billion francs from investors, beyond Mr. Buffett's investment.
As a result, the company says it is cutting its payout to share holders, and will reduce investment in its North Sea operations by 40%.
The media and entertainment giant announced Monday that it is cutting its chairman's salary and bonuses, as it seeks to link pay more directly to performance.
General Motors has told Nascar teams that it is cutting back its support in all of the professional series.
It is cutting back its corporate and institutional banking network from 38 countries at the end of last year to 13.
It is cutting 20% of its staff.
Meanwhile, it is cutting costs at its Irish newspapers.
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