More layoffs at Barrick Gold
Barrick Gold Corp. (TSE:ABX) will lay off more employees, this time mostly from its Toronto corporate office.
The world’s largest gold producer will let go of about 100 workers, Reuters reported on Monday. These employees make up one-third of the company’s corporate staff.
Barrick has been hit hard by falling gold prices, dropping to a 21-year low last week.
Meanwhile, gold shows no signs of recovery. The precious metal lost nearly a percentage point on its spot price on Monday.
Creative Commons image by: Peter Lovstrom.