Is Barrick cutting staff in NV? EDFP should clarify, because this is scarry news! Barrick has also been reducing costs by cutting staffing levels at its head office in Toronto and other places, as it grapples with a weaker gold price. In September, Barrick eliminated its entire corporate development team, as takeovers are not much of a focus for the company at this time. That announcement came just after the miner announced that CEO Jamie Sokalsky was stepping down in September and would not be replaced. Barrick, along with its smaller peers, has been hurt badly in the last couple of years by the decline in the price of gold. The miner, in the last few years, has been largely focused on cutting costs and selling over $1 billion worth of assets deemed non-core. Takeovers have not really been on its radar, although it did abort an attempt to merge with rival Newmont Mining Corp early this year. (Reporting by Euan Rocha; Additional reporting by Nicole Mordant in Vancouver; editing by G Crosse and Gunna Dickson) reuters/article/idUSL2N0T82VY20141118?irpc=932
Posted on: Wed, 19 Nov 2014 05:02:54 +0000
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