Barrick Gold slashes jobs at Toronto head office; director Munk to step down [Toronto Globe and Mail (Ontario, Canada)]
BARRICK GOLD (ABX)
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Source: Toronto Globe and Mail
By Niall McGee Barrick Gold Corp is making deep cuts to its Toronto head office even before its acquisition of Randgold Resources Ltd. has closed, and long-standing director Anthony Munk is stepping down from the board. About 95 people, more than half of Barrick’s head office staff, have already been given layoff notices, according to sources familiar with the matter who aren’t authorized to speak to media. Most of the staff have already departed and a minority will stay on until the end of February. Story continues below advertisement After the US$6-billion deal was announced in September, Barrick employed about 150 people in its Toronto office. At the time, Barrick said its continuing decentralization push may result in “some workforce reduction” and any cuts were expected to be identified within 12 months of the deal closing. But the pace of layoffs appears to be coming quicker than expected, at least at the head office. Th
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