| TORONTO, June 23
TORONTO, June 23 Barrick Gold Corp, the
world's largest gold producer, is this week going to lay off up
to one-third of its corporate staff from its headquarters in
Toronto and a few other offices, according to two sources
familiar with the situation.
The cuts were announced by Barrick's Chief Executive Jamie
Sokalsky at a town hall meeting with staff in Toronto last week,
said the sources, who asked not to be named as they are not
officially authorized to speak about the matter.
One source said this is the first ever round of across-the-
board layoffs for the company at its corporate headquarters in
Toronto, as it struggles with a slumping gold price and a host
of operational and regulatory issues at its mines and projects
across the globe.
Barrick has over 400 people working in its corporate staff
with the vast majority of those located out of Toronto, said the
A spokesman for Barrick was not immediately able to comment
on the matter.
The company, which has roughly 25,000 employees across the
globe, is also in the process of cutting jobs at a number of its
mine sites. Last week, it announced that it was cutting about 50
employees at its operations in the United States, and earlier
this month it announced a few dozen cuts in Australia.